New England town to consider cryptocurrencies for payments and investments
Will Reichelt, the mayor of West Springfield, Massachusetts, and chair of the town’s Cryptocurrency Exploratory Committee. (Douglas Hook)
Officials in West Springfield, Massachusetts, will explore whether cryptocurrencies like bitcoin should become part of how the municipality conducts business.
West Springfield’s new Cryptocurrency Exploratory Committee will look at the possibility of residents paying municipal bills with cryptocurrencies.
Mayor Will Reichelt said the panel will also look at whether the town should invest in the currencies.
“We want to get as much return as we can on money we have that’s really just sitting there and, at the same time, making sure we don’t lose something unnecessarily,” he said.