• Miami Working on Allowing Tax Payments in Bitcoin, Promised Mayor Suarez

  • The mayor of Miami, Francis Suarez, believes China made a significant mistake by evicting bitcoin miners.

    A few months after hinting that Miami residents might soon be able to pay their taxes with bitcoin, the city’s mayor, Francis Suarez, announced that the process has begun and that the request will be issued in October.

    Separately, Suarez also touched upon the most recent actions undertaken by the Chinese government, adding that the US could take advantage of this “huge mistake.”

    Miami Citizens to Pay Taxes in BTC?

    Being a BTC and ETH holder for a while, Francis Suarez has become one of the most popular political names in the cryptocurrency community in the past year or so. His significantly more open stance in regards to the industry resulted in holding the largest Bitcoin conference in his city earlier this year.

    Appearing on Anthony Pompliano’s Best Business Show, Suarez received a question about his previous comment where he suggested that government and municipal workers can be paid in bitcoin in addition to Miami citizens paying their taxes in BTC.

    “We are about to issue what is known as a ‘request for proposal’ in October – that is how we have to select vendors – and we will have a vendor who will allow us to pay our employees in bitcoin and accept bitcoin for fees.”

    Suarez went on to say that a county commissioner is currently looking into ways for taxes to be paid in BTC as well. As a result, he expressed optimism that these endeavors would be approved by late October.

    “We want to do it with bitcoin because it is what we are familiar with and what we trust. We think it’s the most verifiable and most trustworthy network out there.”

    China made a huge blunder.

    Suarez joined MicroStrategy CEO Michael Saylor in claiming that China has made a “huge mistake” by allowing cryptocurrency miners to operate outside of its borders. As previously reported, the world’s most populous country has taken a hard stance against the industry, outlawing mining, trading, and everything in between.

    He believes that the United States has the potential to fully capitalize on this by attracting more miners. Suarez described China’s actions as “giving a gift” to the United States.

    This will allow the United States to provide more jobs, which it previously lost to China due to “slave labor.”

    Miami is one of several US cities that have urged miners to relocate there in order to take advantage of cheap nuclear energy.

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