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Florida State to Allow Bitcoin Salary and Tax Payments

Florida State to Allow Bitcoin Salary and Tax Payments
  • Miami Mayor Francis Suarez aims to enable Bitcoin as a means of payment.
  • For this, he wants city employees to get paid in BTC and allow tax payments to be made in Bitcoin.
  • Mayor Suarez also hopes to finance his political campaign using Bitcoin.

According to Forbes, Miami mayor Francis Suarez is endorsing Bitcoin as a means of payment. As a result, he wants to pay city workers in BTC and also allow taxes to be paid in Bitcoin as well as USD.

He said that achieving this goal will be the “ biggest story for the next years”. Also, mayor Suarez remarked that when it comes to technological innovations and digital currency, he is always thrilled with Bitcoin.

Moreover, he has even added Bitcoin’s whitepaper to the State’s website.

Regarding local fees and taxes, he said that they could also be done using Bitcoin or any other digital currencies.  Looking at this, Mayor Suarez is indeed trying to make Miami a Bitcoin-friendly city. Moreso, late last year, the mayor termed Bitcoin a ‘stable investment’ amid volatile digital asset shifts.

As part of the Mayor’s view on bitcoin, he added that he would love to invest part of the city’s treasury in Bitcoin. However, he said this without saying a likely amount.

He specified that the investment structure would be like a public-private partnership. For this, the private partners will receive rewards for taking part in it.

Moreover, he disclosed that he aims to fund his next election campaign using bitcoin. However, he will not be the first politician to do so.  Democrat Andrew Yang, Eric Swalwell, and many others have also used cryptocurrencies in their campaigns.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.