The mayor of Miami proposed to allow the payment of salaries and taxes in bitcoins

The mayor of Miami has repeatedly spoken in favor of cryptocurrencies and promotes the issue of paying salaries in bitcoins, as well as accepting taxes through cryptocurrencies.

Francis Suarez (Francis Suarez) is going to create a new “Silicon Valley” from Miami and to finance this, he even launched a campaign called “How can I help?” – anyone can buy a T-shirt on the campaign website or donate funds. The money raised will go to the development of tech companies in Miami and innovations in various fields, including in the field of cryptocurrencies.

Earlier, the mayor of the city has already said
about the desire to turn Miami into a “cryptocurrency capital”. One step for this may be the possibility of paying taxes using cryptocurrencies. The implementation of the function can take place quite quickly, since there are already precedents for using digital assets to pay taxes.

Another step may be the possibility of paying salaries to municipal employees in bitcoins. According to the mayor, the idea has already been considered and now it is necessary to prepare regulatory documentation for such use of cryptocurrencies.

Suarez’s third idea was to invest part of the municipal funds in bitcoin. There are no laws prohibiting this in America, but the proposal may be rejected by the public due to the volatility of the asset.

At the end of 2020, Francis Suarez said that it was bitcoin that became one of the most stable investments in an unstable 2020.