The Miami City Commission is now looking into the possibility of allowing Miami residents to pay taxes and earn salaries in Bitcoin.
Miami Mayor Francis Suarez has submitted an official resolution that would make Bitcoin (BTC) an appropriate payment instrument in different parts of the city’s administration.
Announcing the news on Twitter, the Mayor said that the City Commission approved the resolution and is now taking the next steps:
“I wanna thank the city of Miami commissioners for supporting my resolution, which directs a city manager after analysis to procure a vendor to be able to offer our employees to get a percentage of their salary in Bitcoin; allows our residents to pay for fees in Bitcoin.”
The resolution would also bring forwards a proposal to the state legislature that, if successful, Bitcoin would be seen as an appropriate investment for municipal funds.
Suarez said, “It’s wonderful to be a very crypto-forward city, and I wanna thank my commission colleagues for allowing that to happen.”
While the Commission adopted Resolution 4-1, it substantially reworded its original call, according to Bloomberg’s Feb. 11 report. The Commission only decided to examine the feasibility of these measures rather than to take action, as the initial proposal reportedly indicated.
Some city commissioners reportedly warned against switching to Bitcoin without a near risk review. “Maybe you’re ahead of your time, maybe you’re right, but let’s analyze it,” commissioner Manolo Reyes said. Ken Russell, vice-chairman of the city commission, reportedly claimed that he is “certainly not opposed” to the idea of Miami embracing Bitcoin. However, it’s still important to ensure “we all know what we’re getting into,” he said.
Suarez, who will be re-elected in 2021, has increasingly established himself as a promoter of emerging technology such as crypto. The official previously declared his plan to make Miami have “the most progressive crypto laws” and to surpass Silicon Valley as the most bitcoin-friendly location in the United States.
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