Crypto News

Miami Mayor Says Exploring Legislation to Invest City treasury in Bitcoin and Pay Salary in Bitcoin


The city of Miami is on course to become the first city to put its treasury in Bitcoin and pay state employee salary in Bitcoin as Mayor Francis Suarez revealed that they are exploring legislation to put Bitcoin on the city’s treasury balance sheet. The resolution to check legislative feasibility of Bitcoin would explore collecting city taxes in Bitcoin and paying municipal workers in Bitcoin. However, it is important to note that even though commission approved Mayor’s resolution, it toned down the wordings to only study the feasibility at this point and n not pass any law based on it.

Mayor Francis has been quite vocal about Bitcoin being the future of finance and was often seen engaging with top crypto personalities on Twitter discussing Bitcoin. He had even discussed putting a portion of city’s treasury into Bitcoin, however the possibility of that looks quite grim at present given Florida’s strict policies about investing surpluses funds.

Reference: https://coinmarketcap.com/headlines/news/miami-mayor-says-exploring-legislation-to-invest-city-treasury-in-bitcoin-and-pay-salary-in-bitcoin/



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