Miami council supports mayor’s move to offer city worker salaries in Bitcoin

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Miami Mayor Francis Suarez has proposed an official decision that might see Bitcoin (BTC) grow to be a suitable fee instrument in varied components of town’s administration.

Announcing the information on Twitter, the Mayor stated that town fee has supported the decision, and is now taking subsequent steps:

“I wanna thank town of Miami commissioners for supporting my decision, which directs a metropolis supervisor after evaluation to acquire a vendor to have the ability to supply our workers to get a proportion of their wage in Bitcoin; permits our residents to pay for charges in Bitcoin.”

The decision would additionally put a proposition earlier than the state legislature that, if profitable, would see Bitcoin as a suitable funding for municipal funds.

Suarez stated, “It’s great to be a really crypto-forward metropolis, and I wanna thank my fee colleagues for permitting that to occur.” 

Though the fee accredited the decision 4-1, it considerably reworded its authentic name, in keeping with a Feb. 11 report by Bloomberg. The fee solely agreed to check the feasibility of those steps moderately than taking motion, as the unique proposal reportedly steered.

Some metropolis commissioners reportedly cautioned towards transferring into Bitcoin with no shut examine of the dangers. “Perhaps you’re forward of your time, perhaps you’re proper, however let’s analyze it,” commissioner Manolo Reyes stated. Ken Russell, vice-chairman of town fee, reportedly claimed that he’s “definitely not opposed” to the concept of Miami embracing Bitcoin. Nonetheless, it’s nonetheless vital to make sure “everyone knows what we’re stepping into,” he stated.

Suarez, who’s up for re-election in 2021, has been steadily establishing himself as an advocate of recent applied sciences like crypto. The official previously announced his intention to make Miami have “essentially the most progressive crypto legal guidelines,” and overtake Silicon Valley as the most Bitcoin-friendly place in america.