Miami mayor says city is exploring how to accept Bitcoin for tax payments

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Miami Mayor Francis Suarez said his city is taking a new step in the adoption of Bitcoin by exploring how to accept BTC for tax payments.

In a new interview on The Best Business Show with Anothony Pompliano, Suarez says that as Bitcoin emerges into the mainstream, keeping BTC on Miami’s balance sheet seems to make more and more sense.

“This may require changes in state law, so we are working with the state to create a crypto-friendly environment for our state, which requires how we classify Bitcoin, regulations, banking and of course things like keeping it on our balance sheet …

Every day that Bitcoin becomes more and more mainstream, I think it’s a good day for the city to hold it as an asset, especially given some of the inflation levels we’re seeing in the CPI (index consumer prices) over the past few months. “

Suarez, who paved the way for the creation of the city’s own altcoin called MiamiCoin (MIA), said his government was also looking for ways to start integrating Bitcoin into its tax system. According to the mayor, city authorities have already started the legislative process to someday allow the payment of taxes, fees and more with BTC.

“I think one way to integrate Bitcoin is for governments not to be hostile to it, but rather to reap the benefits of technology. As with everything in government, it’s a process, and we’re now on the verge of releasing in October what’s called a ‘request for proposals’, that’s how we have to select suppliers, and we will have a provider that will allow us to pay our employees in Bitcoin, and allow us to accept Bitcoin for a fee. We also have a county commissioner who made a resolution parallel to the county to explore allowing us to pay taxes …

So if you go in and out a permit [or] pay some sort of fee like an alarm license fee, which you can pay in Bitcoin. The part of taxes, which goes through the county, once the county approves it, hopefully then your property taxes you could pay in Bitcoin.

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