Miami Mayor: City should invest in cryptocurrency, Bitcoin

FILE- In this Dec. 8, 2017, file photo, coins are displayed next to a Bitcoin ATM in Hong Kong. British lawmakers are urging regulation for cryptocurrencies such as bitcoin in a report that describes the current situation as the “Wild West.” In a report Wednesday, Sept. 19, 2018 on digital currencies, Parliament’s Treasury Committee called for regulations to protect consumers and prevent money laundering. (AP Photo/Kin Cheung, File)

(Miami, FL) — The mayor of Miami, Florida wants to let people pay taxes with bitcoin.
Mayor Francis Suarez also thinks the city should offer employees the option of being paid with the cryptocurrency.
The city commission didn’t go all the way with the mayor’s proposal, but has approved a resolution to study the idea.

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

Suarez would like to see the city invest in cryptocurrency, although its not clear if that’s legal because of state laws governing public funds.

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By Beth Stibal | February 12, 2021