Miami-Dade Commissioner Wants Locals To Be Able To Pay Taxes In Crypto

Miami-Dade Commissioner Wants Locals To Be Able To Pay Taxes In Crypto

A country commissioner within Miami-Dade wants people to have crypto as an alternative method of paying taxes. The digital asset society is attracting new individuals that are pushing its adoption at an impressive rate. Many governments and firms have been working towards adding another payment option for people to make payments, and the Miami-Dade county might be accepting cryptocurrencies to make tax payments accessible to everybody. Bitcoin’s success has pushed the industry into being one of the most demanded assets, being a flexible means to hold and access investments. This has helped adoption as it facilitates fast payment and decentralization. Miami is currently one of the most prominent regions in America pushing for inclusiveness in cryptos payments.

Miami’s plans concerning cryptocurrencies

Although the region is yet to confirm the news, but sources believe that locals would soon have crypto as an alternative medium to pay taxes, following the increase in digital asset adoption in the global community. One of the individuals pushing for the adoption is Danielle Cohen Higgens, who is a county commissioner in the area. The commissioners wants the community to create a crypto task force, and this opinion has been taken up by the county’s Infrastructure, Operations and Innovations Committee. One of the region’s local new source, Miami New Times shared how the authorities want to facilitate tax payments for around 2 million residents.

Some of the cryptos that would be allowed are Bitcoin, Ethereum and Litecoin. This is not surprising as the three coins have become highly popular amongst experienced and inexperienced traders. People have recommended that the task force should include other digital assets. The commissioner said that it’s great to explore areas in fintechs which could be beneficial to the economy. Asides from the commissioner push for crypto payment, the region’s mayor, mayor of Miami who has been a prominent advocate of digital assets within and outside the region.

Mayor Suazez plans to make Miami an innovation hub

The mayor announced plans sometimes ago to include Bitcoin into the running of his city. He revealed that he want Miami to be one of the prominent crypto tech cities within the country, and has involved many experts to make his visions a reality. Sometime ago, Suarez shared that he was getting a team for the commencement of the plans. Suarez also opined that some government funds could be invested into Bitcoin as the digital asset is continually growing at an impressive rate.

He also revealed that he holds some cryptos, such as Bitcoin, Doge, and Ethereum after explaining his plans to buy the asset some months ago. Miami is looking very crypto friendly as one of the region’s NBA teams, Miami heat has also taken part in the present crypto trend when it became partners with a well-known exchange, FTX. This could help the NBA team include payments in Bitcoin to assure better patronage from their fans. Fortunately, the region has been pushing the crypto narrative, and many people hold the asset due to the global acceptability of the virtual asset.