In mid-February, Bitcoin.com News reported that Miami Mayor Francis Suarez supported the idea of storing bitcoins in the city’s treasury and also allowing taxes to be paid in bitcoins. 15. April 2021, reports indicate that the city could soon introduce the concept of paying taxes, with District 8 Commissioner Daniel Cohen Higgins urging the creation of a digital currency task force in Miami-Dade.
Resolution for the Task Force on Crypto Currency was presented to the Miami-Dade Infrastructure Committee.
Several years ago, during the North American Bitcoin Conference (TNABC) in Miami, Mayor Francis Suarez told the crowd that he wanted the city to become a hub for cryptocurrency and innovation. Later, when digital currencies reached new price highs in 2021, Suarez urged the city to keep bitcoins (BTC) in the treasury and also wants to allow tax payments in BTC. At the time, city council members voted to support cryptographic infrastructure and keep the most important cryptographic asset in the state treasury.
Now, the ability to pay taxes in Miami-Dade may be introduced in the near future. District 8 Commissioner Daniel Cohen Higgins told Miami New Times that the resolution has been referred to the city’s Infrastructure, Operations and Innovation Committee. According to the Miami New Times report, the resolution hopes to bring in the 13-member task force on crypto-currency to examine available solutions. Once the group is formed, it will explore the idea of having residents pay their taxes with bitcoins.
This item would create a task force that could study the feasibility of using crypto-currency in Miami-Dade County to explore the potential benefits and pitfalls that could result from its use. It’s important to explore all avenues that can support a greater presence of technology and startups to grow our economy, Cohen Higgins said in an interview.
County Commissioner District 8 hopes for a tech boom in south Miami-Dade County.
Mr. Suarez has been trying to lure the technology industry to Miami for years, and many Silicon Valley companies, for example, have accepted his offer. In Miami alone, I saw more SF people than last year, tweeted JD Ross, co-founder of the startup Opendoor, on the 10th. January. The city is also home to a vibrant crypto community, conferences like TNABC, and bitcoin ATMs throughout the city.
District 8 Commissioner Cohen Higgins said the tech boom is welcome in Miami. The crypto currency working group needs the approval of the full district committee to move forward with these concepts. I would like to see the technology boom that has already begun take root in southern Miami-Dade County, Cohen Higgins concluded. I want them to count us and I want us to be at the table. If we had a technology or innovation park [in South Dade], that would be very helpful, she said.
What do you think of Miami’s move to accept bitcoin for tax payments? Let us know what you think in the comments below.
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ATMs, bitcoin, bitcoin (BTC), bitcoin treasury, Dade County, Daniel Cohen Higgins, 8th District Commissioner, Florida, Francis Suarez, JD Ross, Miami, Miami Innovation, Miami Tech, Miami-Dade, paying taxes in bitcoin, Silicon Valley, South County Miami-Dade, Sunshine State, taxes, TNABC, Department of Revenue
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