Miami Mayor Francis Suarez wants to make the city an attractive destination for crypto investments as lawmakers consider creating regulations supporting the blockchain and cryptocurrency industry in Florida.
Suarez wants to turn into a blockchain and crypto hub
Suarez wants to convert Miami into an innovation hub with the number of venture capitalists, founders, and major companies moving into the city growing. He indicated that recently they announced a $100 million VC fund with Softbank to award companies and firms moving to the city. Further, he explained that they are working on different things to ensure incentives are in place and there is legislation promoting cryptocurrencies and the blockchain industry. The focus is to make it comprehensive and a holistic endeavor for Miami citizens to thrive.
Regarding the $100 million from SoftBank to startups said that the CEO of the bank saw what he was doing and chose to be part poof it. Suarez said that for any ecosystem to grow it needs talent which is available and has been exporting for decades, but there is a need for capital also. This will be the first kind of investment aimed at accelerating and scaling up of companies in the city.
Miami wants to include BTC in the payment of its workers
The mayor has been vocal about cryptocurrency and blockchain in recent weeks and he expects the industry to continue growing in the City. He adds at all cities in the US and across the world should try to grow the blockchain and crypto ecosystem. At the beginning of the month, Suarez indicated that Miami city employees have a right to take their pay in BTC if they choose and further suggested that residents should be allowed to pay taxes and municipal fees through BTC and other cryptos. He also proposed investing part of the city’s treasury into BTC although this could be tricky considering there are rules that should be followed in terms of investment threshold.
He said recently they posted a Satoshi white paper on the municipal’s website which went viral with the paper getting 2.3 million impressions.