Miami Mayor is pushing for crypto adoption in the city. In a recently published video on Twitter, he announced they are exploring different solutions to integrate Bitcoin (BTC) to the city. Some of the measures include paying employees in Bitcoin and investing city treasury in BTC.
Miami Moves Towards Bitcoin
In a recently published video, Miami City Mayor Francis Suarez announced they are exploring for different Bitcoin solutions. These solutions would include employees to get paid in Bitcoin, residents to pay fees in BTC and a possibility for individuals to pay taxes using the largest cryptocurrency.
Workers of Miami City would be able to get a part of their salaries paid in Bitcoin. This would certainly increase the number of individuals holding and using Bitcoin. Furthermore, they would also be able to pay both fees and taxes using the largest virtual currency in the world.
Finally, Mayor Suarez mentioned that they are also working to allow investors to use Bitcoin for their investment projects. This would definitely allow the city to become one of the most crypto-friendly in the world.
As Bitcoin and cryptocurrencies expand, some jurisdictions are starting to pay closer attention to BTC and digital currencies. Miami is showing it is possible to integrate Bitcoin and allow users to get access to a wide range of solutions and services using BTC.
About the new initiatives, Mayor Suarez stated:
“It’s wonderful to be a very crypto-forward city in the city of Miami and I want to thank my commission colleagues for allowing that to happen.”
WOW! Miami Mayor @FrancisSuarez just got Miami into Bitcoin.
– Employees paid in BTC
– Residents pay fees in BTC
– Taxes in BTC
– City Treasury in BTC
Absolutely unreal. The first Bitcoin municipal in the United States 🔥 pic.twitter.com/zv7rM7C39B
— Pomp 🌪 (@APompliano) February 12, 2021
Although there are no details about these initiatives, we should expect to have more information in the near future. Miami could definitely become a crypto hub with these measures and become a pilot of different initiatives, including paying salaries in Bitcoin.
At the moment, there are no other cities that are allowing users to get paid in Bitcoin. Miami is taking the lead and could be the example to follow for other cities. This could happen not only in the United States but also in other countries all over the world.
It is worth taking into consideration that Bitcoin does not distinguish borders. The virtual currency can be transacted from one country to another in just minutes and without relying on a centralized authority. A positive implementation of these new solutions in Miami could open the way for other cities to adopt Bitcoin as a legal currency for investments and payments.