Miami Mayor Francis Suarez has proposed a formal solution that Bitcoin (BTC) will be considered an acceptable payment instrument in various parts of the city government.
When he announced the news on Twitter, the mayor announced that the city commission had supported the decision and was now taking the following steps:
“I want to thank the Miami commissioners for supporting my decision, in which the mayor, after analysis, is instructed to buy a supplier to offer our employees a percentage of their salary in bitcoin; our citizens are allowed to pay taxes in bitcoins. ”
The resolution will also submit a proposal to the state legislature, which, if successful, will consider Bitcoin as a viable investment for municipal funds.
“It’s great to be a very advanced city in crypto, and I want to thank my colleagues on the committee for allowing this to happen,” Suarez said.
According to a February 11 Bloomberg report, although the committee approved Resolution 4-1, it significantly reworked its initial conversation. The Committee only agreed to study the feasibility of these steps instead of implementing the measures as mentioned in the original proposal.
Some city commissioners have reportedly warned against switching to bitcoin without carefully considering the risk. Commissioner Manolo Reyes said: “You may be ahead of your time and may be right, but let’s get it right.” Ken Russell, the vice chairman of the city commission, allegedly stated that he “definitely does not oppose” the idea that Miami should accept Bitcoin. However, it is still important to make sure that “we all know what we’re going to get into,” he said.
Suarez, who is running for re-election in 2021, has consistently established himself as a proponent of new technologies like cryptography. The official previously announced his intention to introduce “state-of-the-art encryption laws” into Miami, bypassing Silicon Valley as the most convenient place for bitcoin in the United States.