Bitcoin Miami Taxes, PUBLISHED:
Estimated reading time: 4 minutes
by Jacqueline Facconti
In a recent interview, Miami Mayor Francis Suarez reiterated his proposal to accept Bitcoin to pay taxes. Suarez, for a year now, has become one of the most prominent political figures in the crypto community. He is an avid supporter of digital currencies as well as holder of Bitcoin and Ethereum. He also plans to pay government and municipal workers in BTC and turn Miami into a mining hub to power a local nuclear power plant.
In a recent interview, the Miami Mayor Francis Suarez reiterated his proposal to accept Bitcoin to pay taxes. Suarez, for a year now, has become one of the most prominent political figures in the crypto community. He is an avid supporter of digital currencies as well as holder of Bitcoin and Ethereum. He also has in mind to pay in BTC government and municipal workers and to turn Miami into a mining hub to power a local nuclear power plant. The procedure for requesting the activation of crypto tax payment services has been launched but, being an innovative and delicate system with considerable implications, it will take some time between saying and doing.
Paying taxes in Bitcoin: the announcement of the mayor of Miami
The Miami Mayor Francis Suarez has launched the project on a technical level to allow citizens to pay local taxes with the King of cryptocurrencies. In October, legal procedures will be filed to turn Miami into the first major US city to accept BTC as payment of local taxes. In the proposal, the possibility of paying employees in BTC is also being considered. To undertake an innovative path of this caliber, there will be not a few knots to undo and it will take time.
Suarez announced his intentions at a time when the BTC market it is going through a phase of growth. It is an important step considering that, in general, the world of politics supports very little cryptocurrencies, which have always been seen as a threat to state control. Suarez thinks differently from other politicians: he considers the Bitcoin network as the most reliable, secure and verifiable in circulation. He advises governments to ‘train’ on the crypto issue before declaring against it. Miami was ahead of its time and it is fair to remember. In unsuspecting times. was one of the cities that invited miners to move to their areas for block validation and to exploit nuclear energy to reduce costs. The city of Miami has already equipped itself with its own token and has always looked to the world of blockchain as an opportunity for financial growth.
Bitcoin banned in China: a fortune for the US
In the opinion of Suarez, China, in banning mining, trade and any activity related to crypto, has made a big mistake to the advantage of the USA which will now be able to attract more miners by providing them with clean (low cost) nuclear energy. for Bitcoin mining. The mayor of Miami intends to turn the city into a nuclear mining hub for the Bitcoin mining. The environmental impact of coal mining is worrying. Suarez is trying to convince crypto miners that South Florida offers them the ability to harness clean energy such as nuclear, solar and hydro, in a sustainable way and at lower costs. The Miami cryptocurrency, according to the mayor, earns around $ 2,000 every 10 minutes. By enhancing the entire crypto sector, an important goal could be achieved: making the city self-sufficient and not making citizens pay a cent in taxes. A beautiful dream that, like other dreams, could come true.
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I graduated in Business Administration from the Department of Economics and Management ofUniversity of Pisa. I collaborate with various newspapers and professional magazines. Cultured in economics, finance, insurance, technology and commodities, I also have a Master’s Degree in Strategy, Management & Control achieved with a grade of 110 and honors. In my educational school experience, I can also include a Master in Communication, Business, Insurance and Banking. Expert in Quality and Human Resource Management, I am a professional writer.
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