{"id":36345,"date":"2021-02-12T13:36:50","date_gmt":"2021-02-12T11:36:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36345"},"modified":"2025-08-29T05:53:08","modified_gmt":"2025-08-29T02:53:08","slug":"miami-authorities-to-study-integrating-bitcoin-into-the-citys-financial-system","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/miami-authorities-to-study-integrating-bitcoin-into-the-citys-financial-system\/","title":{"rendered":"Miami authorities to study integrating Bitcoin into the city&#8217;s financial system"},"content":{"rendered":"<p>The Miami City Commission voted to study options for integrating Bitcoin into the municipal infrastructure, according to Mayor Francis Suarez.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Exploring:<\/p>\n<p>\u2022 State legislative priority<br \/>\n\u2022 Paying employees in Bitcoin<br \/>\n\u2022 Investing City treasury in Bitcoin<\/p>\n<p>We got it done \u2705 <a href=\\\"https:\/\/t.co\/88laGvVbEG\\\">pic.twitter.com\/88laGvVbEG<\/a><\/p>\n<p>\u2014 Mayor Francis Suarez (@FrancisSuarez) <a href=\\\"https:\/\/twitter.com\/FrancisSuarez\/status\/1360069847971954690?ref_src=twsrc%5Etfw\\\">February 12, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In December 2020, Suarez drew the community&#8217;s attention with statements about Bitcoin. He called digital gold <a href=\"https:\/\/u1f987.com\/en\/news\/miami-mayor-calls-bitcoin-a-stable-investment-in-2020\">a stable investment<\/a> and announced plans to put South Florida at the forefront of crypto-friendly legislation.<\/p>\n<p>In the same month, the Miami mayor pledged that in 2021 the authorities would address integrating the asset as a means of payment. He also did not rule out <a href=\"https:\/\/u1f987.com\/en\/news\/miami-authorities-weigh-allocating-1-of-city-budget-to-bitcoin\">the transfer of 1%<\/a> of the city budget into Bitcoin.<\/p>\n<p>On January 22, Suarez announced the creation of a new team <a href=\"https:\/\/u1f987.com\/en\/news\/miami-authorities-to-form-task-force-to-integrate-into-the-cryptocurrency-industry\">to develop a plan<\/a> for a more active city involvement in the cryptocurrency industry. In the mayor&#8217;s view, Bitcoin could become an alternative to fiat currency tied to state policy.<\/p>\n<p>The final concept would allow civil servants to receive all or part <a href=\"https:\/\/u1f987.com\/en\/news\/miami-mayor-aims-to-allow-salaries-to-be-paid-in-bitcoin\">of their salaries in the leading cryptocurrency<\/a>, and residents to pay taxes and fees with the asset.<\/p>\n<p>According to <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-11\/miami-mayor-pushes-crypto-with-offer-to-pay-workers-in-bitcoin?srnd=markets-vp\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Bloomberg<\/a>, the city administration agreed to study the practicality of the plan.<\/p>\n<p>The deputy chair of the commission, Ken Russell, said he was not opposed to the proposed steps. However, he urged that authorities understand what they are getting into: \u201cWhat needs to be done is diligence, and not just from the legal perspective. It\u2019s not just a currency, it\u2019s a concept.\u201d<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">\u201cKen Russell said he\u2019s not opposed to the idea of integrating Bitcoin into the city\u2019s business, but it\u2019s important to ensure we all know what we\u2019re getting into. What needs to be done is diligence, and not just from the legal perspective. It\u2019s not just a currency, it\u2019s a concept\u201d <a href=\\\"https:\/\/t.co\/5f3xXMiK5p\\\">https:\/\/t.co\/5f3xXMiK5p<\/a><\/p>\n<p>\u2014 Ken Russell Miami (@kenrussellmiami) <a href=\\\"https:\/\/twitter.com\/kenrussellmiami\/status\/1360085144552538114?ref_src=twsrc%5Etfw\\\">February 12, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier, New York mayoral candidate and proponent of transparent crypto regulation Andrew Yang announced plans <a href=\"https:\/\/u1f987.com\/en\/news\/andrew-yang-vows-to-turn-new-york-into-a-bitcoin-hub\">to turn the city into a Bitcoin hub<\/a> if elected.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Miami City Commission voted to study options for integrating Bitcoin into the municipal infrastructure, according to Mayor Francis Suarez.<\/p>\n","protected":false},"author":1,"featured_media":36346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,26],"class_list":["post-36345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36345"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36345\/revisions"}],"predecessor-version":[{"id":36347,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36345\/revisions\/36347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36346"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}