Miami Mayor Proposes Allowing Payment Of Salaries And Taxes In Bitcoin

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The Mayor of Miami has repeatedly spoken out in favor of cryptocurrencies and is promoting the issue of paying salaries in bitcoins, as well as accepting taxes through cryptocurrencies.

Francis Suarez is about to create a new Silicon Valley out of Miami and has even launched a campaign to fund this called “How Can I Help?” – Anyone can buy a T-shirt from the campaign website or donate funds. The collected money will go to the development of tech companies in Miami and innovations in various fields, including in the field of cryptocurrencies.

Earlier, the mayor of the city has already spoken about the desire to turn Miami into a “cryptocurrency capital”. One step towards this could be the ability to pay taxes with cryptocurrencies. Implementation of the function can go quite quickly, as there are already precedents for using digital assets to pay taxes.

Another step could be the possibility of paying salaries to municipal employees in bitcoins. According to the mayor, the idea has already been considered and now it is necessary to prepare regulatory documentation for this use of cryptocurrencies.

Suarez’s third idea was to invest part of the municipal funds in bitcoin. There are no laws prohibiting this in America, but the proposal may be rejected by the public due to the volatility of the asset.

At the end of 2020, Francis Suarez announced that it was Bitcoin that became one of the most stable investments in an unstable 2020.

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