A new bill from Rep. Steve Stockman (R-Texas) would call for sales taxes to be paid on transactions using bitcoin.
“This is a nascent industry,” he said in a statement on Monday. “Along with 3-D printers and nanotubes, cryptocurrency is the future. We need to encourage it, not discourage it. There is risk associated with every budding industry in America.”
Bitcoins only exist virtually but can be traded for cash online or used to buy goods and services at some stores.