Miami-Dade County Task Force Is Looking at Ways for Residence to Pay Taxes Using Crypto
Florida-based county launches crypto task force to explore the possibility of paying state taxes using Bitcoin and cryptocurrency.
In a letter first made public by Miami New Times, Miami-Dade County commissioner Cohen Higgins brought up a resolution to set up a crypto task force that will investigate the possibility of paying state taxes and service fees using cryptocurrencies. The resolution was presented to the Miami-Dade’s Infrastructure, Operations, and Innovations Committee to establish a 13-member team.
The task force aims to find feasible ways residents could pay for their taxes and other county fees using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC). The letter further lined out the membership, organization, procedures, establishment, and task force functions.
BTC -2.96% Bitcoin / USD BTCUSD $ 42,758.97
-$1,265.67-2.96% Volume 34.3 b Change -$1,265.67 Open $42,758.97 Circulating 18.82 m Market Cap 804.93 b 17 h China’s Leading Crypto Exchange, Huobi, Custodies More than $1 Billion in Assets 20 h Google Searches for Bitcoin Hit Dec 2020 Level, Interest in NFTs Surpass DeFi Significantly and Matched Ethereum Briefly 20 h New Jersey Regulators Extend Enforcement on BlockFi BIA Ban to December 1st ETH -7.44% Ethereum / USD ETHUSD $ 2,886.40
-$214.75-7.44% Volume 18.75 b Change -$214.75 Open $2,886.40 Circulating 117.65 m Market Cap 339.59 b 15 h 1Inch Moves to Arbitrum For Faster Throughput And Lower Gas Fees 19 h Wormhole Launches Solana-Ethereum Bridge to Move NFTs Cross-Chain 20 h Google Searches for Bitcoin Hit Dec 2020 Level, Interest in NFTs Surpass DeFi Significantly and Matched Ethereum Briefly LTC -5.89% Litecoin / USD LTCUSD $ 150.69
-$8.88-5.89% Volume 2.16 b Change -$8.88 Open $150.69 Circulating 66.75 m Market Cap 10.06 b 1 d Lloyds to Auction off Vehicles from Mad Max FURY Road Film, Crypto Accepted 1 d AMC Theaters CEO Is Considering Adding Payment Support for DOGE By Year-End 6 d Interactive Brokers Founder Already Red Pilled, Has Been “Itching” to Offer Crypto Trading for a Long Time
The commissioner called on the committee to embrace cryptocurrencies, and they “have reached a point that merits evaluation” in order not to miss “potential opportunities such as efficiency and cost-saving.”
The committee passed the letter on Thursday noon but still awaits the final committee decision by the full county commission.
The Miami-Dade County has recently caught several eyes in the crypto circles with a multi-million deal being struck with FTX crypto exchange. The exchange became the first crypto entity to sponsor a major professional sports venue as Miami Heat grounds switched from AmericanAirlines Arena to FTX Arena.
Miami Mayor Francis Suarez has also been at the forefront to enact Bitcoin-friendly laws in the city and has urged other administrators to follow suit. He announced a new CTO role in his management, a position that will overlook the city's growth as a fintech hub and boost “Big Tech” companies relocating to Miami. He also previously stated Miami’s plans to add Bitcoin to its balance sheet.