Mayor Suárez assured that his staff is working on it and hopes that, by next month, this payment option will be available for all interested parties.
The mayor of the city of Miami, Francis Suárez, assured that his team is already working so that citizens have the possibility of paying their taxes with Bitcoin, for which they will soon have a sample ready to appear this month. He wants to see if it complies with respective standards.
This news came from Suarez during an interview on Anthony Pompliano’s Best Business Show program. There, the mayor revealed some details about the progress regarding this situation. He also expressed his opinions about what could be happening with digital currencies in the international scenario.
Citizens Paying their Taxes with Bitcoin
When addressing the issues related to the payment of taxes with digital currencies, Mayor Suarez highlighted that the procedures to achieve this goal have already begun. But, due to the substantial implications that this type of proposal has, they still have to work on it.
The leader assured that they do this to take full advantage of the benefits that Bitcoin offers. He recommends that governments receive adequate education about digital currencies.
Suárez has stepped forward, and citizens and media outlets describe him as a Bitcoin follower and major cryptocurrency enthusiast. He openly sympathizes with the adherence of new technologies, starting from bringing digital currencies to a higher number of users within Miami, even proposing to miners to use the economic nuclear energy within the state.
MiamiCoin and How it Works
Miami Coin is the first CityCoins project developed for Florida city. It receives power from Stacks, the open network for decentralized applications and smart contracts in Bitcoin, a building a user-owned Internet secured by Bitcoin. Stacks uses the native STX currency.
According to the company, CityCoins allows anyone to become a miner by sending their STX tokens through the protocol. 30% of the forwarded STX gets reserved for the respective city. Miners can accumulate the remaining 70% to earn STX and BTC.
The mayor of Miami and the Miami City Commission voted this week to accept $ 4.5 million in cryptocurrency MiamiCoin, which got reserved by protocol design.
Mayor Francis Suarez wrote on Twitter that the funds would generate a positive impact on the lives of Miami residents.
Mayor Suarez and the Miami City Commission have pledged funds for initiatives targeting the city’s underprivileged communities, incentives for tech entrepreneurs, crypto education and climate change, and rising sea levels.
It is worth noting that since the beginning of the year, Suárez has expressed his interest in cryptocurrencies, mainly in Bitcoin.
He ended on the last day of December 2020 by announcing that he planned to invest city reserves in BTC. He also stated that he aspired to pay public employees with that cryptocurrency and even called miners to move there.
By: Jenson Nuñez
