Miami’s mayor discloses intentions of making the city a crypto capital

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and… read more.
on Jan 18, 2021
  • Per Tyler Winklevoss, Miami residents stand to benefit significantly if the city embraces crypto.
  • Mayor Francis Suarez believes that Miami has what it takes to adopt crypto quickly.
  • The mayor also intends to let the city’s residents pay taxes in crypto.

Francis Suarez, the mayor of Miami, wants the city to become the world’s crypto capital. He unveiled this information during a sit-down with Tyler and Cameron Winklevoss, the founders of Gemini Exchange. Suarez then uploaded the video of his conversation with the Winklevoss twins on his Twitter handle, noting that they discussed cryptocurrencies and the future of blockchain technology.

According to Tyler, Miami residents might benefit significantly from crypto. This is because there may be a large fraction of the population, which has family members outside the city or in other countries. At the moment, they pay a lot of transaction fees just to send their loved ones money. However, with crypto, their money-sending experience would become seamless, seeing as it is as simple as sending an email. On top of this, the city’s residents will get to enjoy zero remittance fees.

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Suarez was keen on this idea and showed a lot of interest in making Miami a potential hotbed for new technological innovation. He noted that the city is well known for being a financial hub, seeing as it currently boasts ample capital and a robust financial banking system. All that remains, according to Suarez, is embracing crypto. While he admitted that Miami is behind New York regarding crypto innovation, at the moment, he believes that the city has what it takes to catch up and surpass New York.

Suarez also noted that he is laying down plans to let people use crypto to pay for city taxes. These range from property taxes to permit-associated fees.

Apart from this, he responded to an article that spoke of his efforts in trying to lure tech companies to the region and diversifying the city’s portfolio to make it look like a sort of Silicon Beach. In his tweet, Suarez said that the city welcomes anyone that shares its vision. However, the city does not intend to be Silicon Beach or the next New York because it has principles that make it Miami.

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