Miami crypto capital of the world

Miami crypto capital of the world

Bitcoin News
October 14, 2021 by J.D. Smith
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Miami Mayor Francis Suarez continues his campaign to make the city the first crypto capital of the world. Why Miami can become the crypto capital The aim of the “Mayor” is to be able to introduce the crypto world to more citizens through forums and conferences such as Bitcoin 2021, a cryptocurrency-themed conference that will
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Miami Mayor Francis Suarez continues his campaign to make the city the first crypto capital of the world.

Why Miami can become the crypto capital

The aim of the “Mayor” is to be able to introduce the crypto world to more citizens through forums and conferences such as Bitcoin 2021, a cryptocurrency-themed conference that will move from Los Angeles to Miami for this year only.

These are the words of Suarez:

“It’s a major priority for me because I want us to differentiate ourselves as a crypto capital of the United States or of the world”.

The city of Miami is considering the administrative option of paying municipal employees with Bitcoin.

The road also opens up for the investment of new funds that would support urban planning projects and, ultimately, also the payment of local taxes and fees.

The mayor has not yet set a time limit for this to happen. In fact, he is currently only counting on spreading the word about cryptocurrencies to see how the city might respond to the invitation.

In an interview with Bloomberg, published on Tuesday, Suarez called on lawmakers. He aims to propose an assessment by the authorities in charge of regulation on several fronts related to cryptocurrencies.

The mayor pointed out:

“We have actually done three things. One is that we are going to request a proposal in October to allow our employees to get paid in bitcoin, allow our residents to pay for fees in bitcoin, and even taxes in bitcoin if the county allows it.”

The pro-Bitcoin mayor also said in another interview with Fox Business that he disagreed with JP Morgan CEO Jamie Dimon who had issued a categorical denial of the use of the cryptocurrency par excellence.

Miami crypto
Miami pushes to produce Bitcoin with clear energy

Bitcoin and renewable energy

Suarez continues his pursuit of a modern solution that includes cryptocurrencies as a legalised means of payment in the Miami area.

The mayor also wanted to mention the availability of being able to use (very cheap) nuclear energy with zero carbon emissions in Miami in order to start a proposed mining farm. This specifically leads to less concern about any risk of environmental impact.

The tweet with which he opened October was important for the reference to the MiamiCoin Wallet.

With this wallet, Miami can count on a net help in increasing the funds allocated to the city. And all this without having to add additional taxes.

MiamiCoin’s earnings were $1 million in one day, and the increase quickly reached $9 million.

Suarez is in the same line as others in the States who have decided to open up to cryptocurrencies. The BNY Mellon Bank of New York, in favour of its clients with the addition of new services dedicated to the crypto world, as well as Mastercard which has decided to activate digital payments with its credit cards.

The game has only just begun, with many other giants of the world economy soon to join the list.

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