Miami would propose a bill to create that payment mechanism, which would allow paying fees and taxes with Bitcoin. The official stated that he wanted Miami to differentiate itself as a crypto capital in the United States and the world.
The Mayor of Miami, Francis Xavier Suárez, said the plan to pay city employees with Bitcoin is moving forward. He highlighted that allowing them to receive their salaries in the cryptocurrency is a high priority for the city.
The official announced that Miami would propose a bill to help create that payment mechanism. That would allow residents to pay fees and taxes with Bitcoin.
In early February 2021, Suárez expressed that he wanted the employees of Miami to collect their salaries in Bitcoin. The mayor promised that MiamiCoin, the local cryptocurrency, would help eliminate homelessness and increase the police force.
The Mayor of Miami, Francis Suárez, Reveals the Progress of the Plan
Francis Suárez stated that he had not forgotten his proposal to pay the employees in the city with Bitcoin. The mayor said that he wanted his city to differentiate itself as a crypto capital in the United States and the world.
Furthermore, Suárez said that his main priority is to enable Bitcoin as a payment option for government salaries, taxes, and citizen fees. Throughout the year, he has expressed his interest in making Miami the top crypto city in the country.
In late September, he said that he hoped that residents could pay their taxes with cryptocurrencies from October.
The strategy of Suárez is not simply to adopt Bitcoin to pay wages and collect taxes, but it goes further. A few weeks ago, he made a general appeal to miners to settle in the city, offering them various benefits.
A Proposal for Miami to Invest Part of Its Funds in BTC
Under his leadership, in late 2020, Miami submitted a proposal to allow the city to invest in Bitcoin. However, the limitations of the Florida Statutes do not allow local governments to own volatile assets like cryptocurrencies.
Suárez stated that they could have kept it from the moment he put the resolution on the agenda. The official said it would have increased by 30% or 40%, making him a genius.
The Mayor Invited Chinese Bitcoin Miners to Settle in Miami
In June, the mayor of Miami, Francis Suarez, offered the spaces of his city to Bitcoin miners expelled from some Chinese provinces. He told them that the city has the infrastructure to generate electricity using renewable and non-polluting sources.
The actions by China against Bitcoin mining in provinces like Inner Mongolia and Xinjiang are causing uncertainty. The owners of the digital farms had to abandon their activity within the following two months. Those two areas concentrated 48% of the total computing power of Bitcoin.
Some regions with low energy costs, with politicians open to cryptocurrencies, such as Texas, could receive the diaspora. Other cities with the same characteristics, like Wyoming and Miami, said that they could accept them.
By Alexander Salazar
