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A Miami-Dade County commissioner is supporting a proposed resolution that would enable people to pay local taxes using cryptocurrencies such as Bitcoin (BTC).
According to a Thursday document acquired by The Miami New Times, county commissioner Cohen Higgins has brought a resolution to Miami-Dade’s Infrastructure, Operations, and Innovations Committee, calling for the establishment of a 13-member crypto task force.
The task force will investigate the viability of encouraging people to pay county taxes, as well as fees and utilities, in crypto currencies such as Bitcoin, Ether (ETH), and Litecoin (LTC). Crypto payments, according to the paper, have the “potential to enhance convenience and save costs.”
“The item would create a task force to investigate the feasibility of using cryptocurrency in Miami-Dade County, as well as any potential benefits and drawbacks that may arise from its use. It is critical to investigate all ways that can sustain an expanding tech and startup footprint in order to help our economy.” Higgins said.
The request will be heard before a Miami-Dade County committee today at noon. If the measure is passed, it must then be approved by the whole county council.
The resolution refers to a related measure passed by the administration of the City of Miami on February 11, 2021, which called for a report to ascertain the possibility of encouraging Miami residents to pay taxes and city workers to be paid in Bitcoin. Miami Mayor Francis Suarez introduced the resolution as part of his ambitious plan to make the city a blockchain hotspot in the United States.
Hemang Subramanian, a blockchain-focused assistant professor at Florida International University’s business school, suggested that crypto could be attractive for Miami residents due to its large population coming from other countries. As crypto is stored in digital wallets and not tied to a specific country, foreign investors and residents won’t need to pay exchange fees to change their home currency into the U.S. dollar and vice-versa.