WEST SPRINGFIELD — Mayor William Reichelt will chair an ad hoc Cryptocurrency Exploratory Committee that will examine the benefits and risks of the rising cryptocurrency market.
The committee will help determine opportunities for municipal investment, growth, and increased forms of payment options for residents and employees.
“I look forward to working with the other members of the committee to further research the opportunities that may be available for West Springfield to take advantage of this up and coming alternative to traditional currency,” Reichelt said Tuesday. “I believe that cryptocurrency presents a unique opportunity to leverage available financial opportunities, which have been extremely limited historically for municipalities.”
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