{"id":112607,"date":"2021-02-12T19:30:50","date_gmt":"2021-02-12T19:30:50","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112607"},"modified":"2021-02-12T19:30:50","modified_gmt":"2021-02-12T19:30:50","slug":"miami-mayor-sees-bitcoin-move-as-way-to-attract-tech","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/miami-mayor-sees-bitcoin-move-as-way-to-attract-tech\/","title":{"rendered":"Miami mayor sees bitcoin move as way to attract tech"},"content":{"rendered":"
FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS\/Dado Ruvic\/File Photo<\/figcaption>

(Reuters) – The city of Miami is seeking to embrace bitcoin in its operations, a move that could bring dividends in terms of attracting technology companies, Mayor Francis Suarez said on Friday.<\/p>\n

The city commission late on Thursday approved in a 4-1 vote a first step in the mayor\u2019s proposal to allow bitcoin to be used to pay city workers and for city residents and businesses to make fee and tax payments with the cryptocurrency.<\/p>\n

\u201cCities like Miami, we\u2019re trying to attract tech town,\u201d Suarez said in a telephone interview. \u201cIt\u2019s part of a larger play if you will to position Miami as one of the most tech-forward cities in the country.\u201d<\/p>\n

While an initial step involves finding a third-party vendor to facilitate bitcoin transactions, the mayor also wants the Florida city, which ranks as the 42nd-most populous city in the United States, to explore investing a limited amount of its funds in bitcoin as a long-term asset hedge.<\/p>\n

\u201cI firmly believe that when and if Amazon and or Apple adopts bitcoin as a payment structure the dam will essentially break because at that point you\u2019re talking about a very high volume of transactions being able to use bitcoin,\u201d Suarez said. \u201cI just wanted us to be on the cutting edge and sort of ahead of the game.\u201d<\/p>\n

Other U.S. local or state government have dipped their toes into cryptocurrency, including Florida\u2019s Seminole County, according to media reports. In 2018, the Ohio Treasurer\u2019s Office launched a cryptocurrency tax payment portal, which was suspended in 2019 over a legal issue.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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