TL;DR Breakdown
• The Miami mayor seeks to normalize payments in cryptocurrencies.
• MiamiCoin has increased in value after over three months since its launch.
Francis Suárez, Miami mayor, said he wants a salary in Bitcoin. In this way, Suárez could be the only politician in the United States who hoped for payment in a decentralized currency.
Since cryptocurrencies boomed in the North American city, Suárez has been creating laws for virtual commerce, with the purpose that citizens can use them without problems. With Suárez, the city of Miami has become the main headquarters for crypto adoptions in the US for both Bitcoin and MiamiCoin, a city currency.
Miami Mayor plans paychecks in Bitcoin
Since Tuesday, Suárez has been talking about cryptocurrencies and the laws he has been pushing to support virtual currencies. According to the politician, the city is prepared to pay taxes, businesses, and rents in cryptos such as Bitcoin. Even under these opinions, Suárez will be the only US politician who wants to accept check-in crypto.
Suárez responded to a tweet by Anthony Pompliano, an agent of the Morgan Creek Digital hedge fund, who asked who would be the North American politician who accepts payment in cryptocurrency for the first time. Suarez said that he would receive 100 percent of his payment in BTC.
But the Republican party politician invited his colleague Mike Sarasti, head of technology and innovation in Miami, to work on his proposal. Sarasti is encouraged to be a participant in this project that many followers of Mayor Suárez loved.
Francis Suarez and his commitment to cryptocurrencies
Francis Suárez, who is going through a second round as mayor of Miami, feels committed to the crypto trade and does everything in his power to support them. Suárez’s priority is making the city a crypto powerhouse and appears to be doing so.
According to announcements, Suárez wants to make the city the capital of crypto negotiations in the United States and around the world. With these goals in mind, Suárez has been creating one law after another for cryptos, just like a native cryptocurrency of the city, MiamiCoin.
Over three months after its launch, the MiamiCoin token has a value of $0.0237 with a market capitalization that exceeds $47,000,000. The crypto has had a good streak considering its trading volume has increased over 100 percent in the last hours.
Under this crypto project, Suárez will seek to raise funds to remodel the magical city. Shortly the mayor hopes to eliminate the payment of taxes for all its residents. However, the crypto plan is still under construction, so its results have not been so relevant.
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