Miami mayor to accept salary in Bitcoin

Miami mayor to accept salary in Bitcoin

Francis Suarez, the mayor of Miami, said he will receive his next salary entirely in Bitcoin. This is seen as a move that will inspire other politicians to adopt the cryptocurrency. Now, New York Mayor Eric Adams has also announced his intention to do the same.

The mayor of Jackson and Cool Valley and some politicians, including US Senator Cynthia Lummis, have long supported Bitcoin.

Just as Miami now has its cryptocurrency, New York is also planning something similar, Adams said in an interview. Miami cryptocurrency MiamiCoin was created in collaboration with the CityCoin group. The mayor of Miami revealed that there are plans to pay the city’s employees’ salaries in cryptocurrencies.

Unlike India, where cryptocurrency has not yet been legalized, bitcoin and other cryptocurrencies are legal in the United States.

Suarez urged the government to create laws that help people pay taxes on cryptocurrencies. Suarez wants Miami to become a bitcoin capital and digital financial hub.

No wonder Miami welcomed the cryptocurrency with open arms. The mayor even encouraged cryptocurrency mining in Miami after it was banned in China.

Despite its volatile nature, it is well accepted in the United States.

Cryptocurrency mining leads to high electricity consumption, which is why environmentalists still do not consider it sustainable.

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