Miami Mayor Francis Suarez has always been a prominent advocate of Bitcoin and the cryptocurrency industry. Suarez is known for his different attitude and policy outlook on technology innovation for the city.
In the latest interview with Forbes, Suarez revealed that there are three tangible paths that he wants to take to advance the adoption of Bitcoin in the city of Miami.
Firstly, he wants to be able to give his employees the ability to take a share of their salary in Bitcoin or any other cryptocurrency.
Secondly. he wants Miami residents to have the ability to make payments of taxes and fees in cryptocurrencies.
Thirdly, he also envisions Bitcoin as a part of the city’s investment portfolio. He also admitted that the third objective is probably the hardest to achieve, and went on to explain,
“not because of anything other than the fact that we have rules that we have to follow in terms of our investment threshold. So, I have to do the analysis on that and it’s on my agenda.”
Miami Mayor Working Towards Making Forward-thinking Legislation
Suarez wants his south Florida city to be a hub for cryptocurrency and in the latest interview he went on to confirm playing the game of “regulatory arbitrage” to capture and attract talent as well as making Miami the landing ground for tech expats.
“100%. We’re doing that because we’re looking at states like Wyoming and making sure that we have the most progressive crypto laws. We’re looking at New York’s regulatory environment. “
Suarez asserted that he is keen on levelling the playing field and make sure that nobody has an advantage over Miami based on laws that can be easily reformed.
With respect to courting the cryptocurrency industry as part of his larger call to attract tech companies and their capital, the Mayor had previously revealed uploading a copy of the Bitcoin white paper to the city’s municipal website.
According to him, the whitepaper was very well received by the Miami residents and reportedly got 2.3 million impression.