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 0.12% Bitcoin / USD BTCUSD $ 21,429.24
$25.720.12% Volume 20.91 b Change $25.72 Open $21,429.24 Circulating 19.08 m Market Cap 408.83 b 5 mon SEC Commissioner says NFTs Might Fall Within Their Jurisdiction, Gensler Hires Senate Aid for Crypto Policy 5 mon A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 5 mon Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum ETH -0.99% Ethereum / USD ETHUSD $ 1,229.69
-$12.17-0.99% Volume 13.24 b Change -$12.17 Open $1,229.69 Circulating 121.32 m Market Cap 149.18 b 5 mon Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 5 mon A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 5 mon The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022 LTC -0.65% Litecoin / USD LTCUSD $ 58.27
-$0.38-0.65% Volume 459.09 m Change -$0.38 Open $58.27 Circulating 70.59 m Market Cap 4.11 b 6 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 6 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 6 mon Ledger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card
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.