Miami Mayor proposes resolution offering bitcoin pay to employees

Miami Mayor proposes resolution offering bitcoin pay to employees

by

Mayor of miami Francis SuarezFrancis SuarezMiami Mayor proposes resolution offering payment to employees in bitcoin GOP Mayor of Miami beats DeSantis for lack of restrictions COVID-19 Preview of Sunday programs: New COVID-19 variants spread across the USA; Redditors shake Wall Street with Gamestop shares MORE (R) recently proposed a resolution that would allow municipal workers to choose whether or not they want to receive part or all of their Bitcoin wages.

In the draft resolution, Suarez also proposed allowing city residents to pay property taxes or municipal fees in cryptocurrencies, according to Bloomberg.

Bitcoin has proven to be a volatile cryptocurrency that can increase or lose more than half its value in just a month. However, Suarez said he supports Bitcoin and even plans to have his city administrator look into investing a “limited amount of government funds” in it, Bloomberg said.

“[Miami] is committed to promoting the rise of Bitcoin as it continues to gain popularity

acceptance, ”said Suarez in the resolution.

The resolution is due to be presented to the city’s governing commission for approval on Thursday.

Surarez has some support on Vice President Ken Russell’s committee, saying he “certainly does not oppose” the inclusion of Bitcoin in the city’s businesses, although he has expressed that the city government needs to know what it is getting into, Bloomberg reported.

“What needs to be done is diligence, and not just from a legal point of view,” said Russell. “It is not just a currency, it is a concept.”

.Source