ComplianceX | | Oct 13, 2021
Miami will advance a plan to pay city workers in bitcoin, Mayor Francis Suarez told Bloomberg on Tuesday, expanding on his push to make the Florida city a major hub for digital assets.
“We’re going for a request for proposal in October to allow our employees to get paid in bitcoin, to allow our residents to pay for fees in bitcoin and even taxes potentially in bitcoin if the county allows it,” Suarez said in an interview with the business channel.
A formal solicitation would come after the city commissioners in February backed his resolution to direct the city manager to procure a vendor to offer employees the ability to receive a percentage of their salary in bitcoin.
See: Miami’s mayor says MiamiCoin generated over $5 million USD for the city in the last 30 days
At the time, bitcoin traded close to $48,000, then hit an all-time high of $64,804.72 in April, fell below $30,000 in July, and recently reclaimed the $55,000 mark.
Despite the price volatility, Suarez also wants the state of Florida to allow Miami to hold bitcoin on its balance sheet. Statutes at the state and federal levels currently don’t allow cryptocurrencies to be owned by municipalities.
“It’s a major priority for me because I want us to differentiate ourselves as the crypto capital of the United States or of the world,” Suarez told Bloomberg Tuesday.
Continue to the full article –> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
Related Posts
- &
- 000
- affiliates
- April
- article
- Assets
- Bitcoin
- blockchain
- Bloomberg
- business
- Canada
- capital
- City
- community
- county
- Crowdfunding
- crypto
- cryptocurrencies
- cryptocurrency
- decentralized
- digital
- Digital Assets
- ecosystem
- Education
- employees
- expanding
- Federal
- Fees
- finance
- financial
- fintech
- florida
- full
- funding
- Global
- Government
- High
- hold
- HTTPS
- industry
- information
- Innovation
- innovative
- Insurtech
- Intelligence
- Interview
- investment
- IT
- July
- major
- mark
- Market
- Mayor
- Members
- Miami
- Miami mayor
- million
- networking
- offer
- opportunities
- partners
- Pay
- payments
- price
- projects
- proposal
- public
- Regtech
- Sectors
- Services
- State
- States
- Taxes
- the world
- time
- Tokens
- United
- United States
- us
- USD
- Volatility
- workers
- works
- world