Miami Mayor Confirms Work on Pro-Bitcoin Laws, Urges Others to Follow Suit
Mayor Francis Suarez has confirmed the city's work in pro-crypto regulations. The city is taking a progressive initiative, with Suarez believing that a tech-forward regulatory approach could be beneficial.
Francis Suarez, the mayor of the City of Miami, has been pushing an interesting pro-Bitcoin agenda for some weeks now. In a recent article, the politician spoke about his plans for the currency and possible interactions in his city.
Following Wyoming's Footsteps
Over the weekend, Mayor Suarez spoke with Forbes Magazine about his love for Bitcoin and hopes for the currency.
In the interview, Suarez plans to make Miami a crypto-friendly city in the United States, following in the footsteps of states like Wyoming and New York.
Expatiating, Suarez confirmed that lawmakers in Miami are working on implementing progressive crypto laws that will run citywide.
The mayor explained that they believe cryptocurrencies are here to stay, and they're putting plans in place to ensure that no one gets the upper hand over Miami concerning progressive regulation.
Suarez particularly praised the state of Wyoming, which he claimed was being “smart” in adopting cryptocurrencies quickly. The Cowboy State has been in the news recently, following the admission of Cynthia Lummis, a Republican pro-Bitcoin Senator, into the Senate Committee on Banking, Housing, and Urban Affairs.
Lummis has been vocal about her support for cryptocurrencies, having owned Bitcoin as far back as 2013. Speaking with Anthony Pompliano recently, the Senator explained that she was looking to form a Financial Innovation Caucus that will educate several Congress members on cryptocurrencies and blockchain developments.
As Cynthia Lummis explained, the focus is to ensure that crypto regulations that come out of Capitol Hill are from educated and nuanced standpoints – not just hearsay and speculations that paint cryptocurrencies in a bad light. The Senator added that she had been speaking with Treasury Secretary Janet Yellen on crypto laws, and that the policymaker seemed to have an open mind on the subject.
Suarez Has Big Plans for Bitcoin in Miami
Suarez is not ashamed to identify with bitcoin. Last December, he praised the leading cryptocurrency for being a “stable investment” during an “incredibly unstable year,” referencing the significant capital flight into the crypto sector last year due to the coronavirus. The politician added that Miami lawmakers were exploring the idea of the city having America's crypto-centric government. Last week, Mayor Suarez announced some friendly Bitcoin-focused initiatives in the city. Some of these programas could see government employees receive their salaries in bitcoin payments.
The city is also reportedly working on a crypto payment channel for taxes and the possibility of placing some outfits capital and revenues in the asset. These ideas are still in its early stages, but the Mayor has raised the possibility of a public-private partnership that would allow private firms to bear risks from the government's crypto investments and be eligible for rewards