The city commission in Vicco [Kentucky] approved a measure on Monday
to begin paying the city’s police chief in a virtual currency, a move
officials say is likely the first of its kind in the nation.
Police Chief Tony Vaughn appeared before the commission last month to
officially request that his salary be paid to him in Bitcoin, a new
virtual currency which exists only on the Internet and this year has
gained significant traction, with its value rising by the end of
November to more than $1,000 per coin, according to USA Today. The
currency was valued at less than $100 at the beginning of the year.
The city commission in Vicco opted last month to hold off on
approving Vaughn’s request in order to research the issue. Commissioner
Claude Branson on Monday said officials did their homework, and there
doesn’t seem to be any logistical or legal issues to paying Vaughn in
Bitcoin.
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