Miami continues with plan to pay its employees in Bitcoin

Different ways to earn cryptocurrencies.

Different ways to earn cryptocurrencies.

Photo: de Karen BLEIER / AFP / Getty Images

The City of Miami City Council continues to join efforts with the objective of fulfilling with his plan to pay public workers in Bitcoin, as confirmed by Mayor Francis Suárez during an interview in Bloomberg.

“We are going to request a proposal in October to allow our employees to receive payments in Bitcoin, to allow have our residents pay fees in Bitcoin and even taxes potentially in Bitcoin if the county allows it”, Explained the mayor who also wants his city to become an important center for digital assets.

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This formal petition will come after city commissioners in February endorsed their resolution to direct the city manager to look for a provider to offer employees the possibility of receiving a percentage of their salary in Bitcoins.

At the time, the digital currency was trading around $ 48,000, then reached an all-time high of $ 64,804.72 in April and fell below $ 30 thousand in July. Recently, it got back to the $ 55,000 mark.

Despite price volatility, Suarez also wants the state of Florida to allow Miami to keep Bitcoin on its balance sheet. Statues at the state and federal level currently do not allow cryptocurrencies to be owned by municipalities. “It is an important priority for me because I want us to differentiate ourselves as the crypto capital of the United States or the world, ”said Suárez.

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Those statements came after the launch of MiamiCoin, a non-profit organization that creates cryptocurrencies for municipalities. People who mine CityCoins in software with their personal computers earn a percentage of the cryptocurrency they created, and 30% of the users’ reward goes to a selected city.

MiamiCoin sent around $ 7.1 million to Miami in August. Miami city commissioners agreed this month accept donations.

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