Miami mayor becomes first politician to get paid in bitcoin

Miami mayor becomes first politician to get paid in bitcoin

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Answer Miami mayor becomes first politician to get paid in bitcoin

The current mayor of Miami, Francis Suarez, has announced that he will receive his entire salary in bitcoin, making him the first politician to do so.

Earlier, NFL stars and other athletes were seen taking part or even their entire salary into bitcoin, but no politician had done so before.

Given Suarez’s love of bitcoin, it wasn’t a huge surprise either.

Suarez was one of the biggest proponents of Bitcoin and is working to make Miami the crypto city in the USA.

Read:Four Possible Reasons Why Bitcoin Price Rally Above $41,000

It is working on building clean bitcoin mining facilities as well as allowing government employees to receive their salaries in bitcoin as well.

At one point, the mayor also suggested investing the city’s money in bitcoin, but that plan was not implemented because current state laws do not allow investing in digital assets.

Miami also became the first city to have a private cryptocurrency called “Miami Coin,” which was built on the Bitcoin blockchain.

Miami drives the crypto wagon in the USA:

As cryptocurrencies become more common, politicians and local governments have begun experimenting with their current financial system in a bid to become the crypto city of tomorrow.

In the US alone, several mayors in their elections promised to make their city a hub for cryptocurrency, but Miami appears to be years ahead at the moment.

Other cities trying to emulate Miami’s crypto successes include Florida, New York, and a few others.

With central governments noticing the progress of crypto, state governments can now gain more traction towards building crypto-incubating cities.

Read:Federal Reserve Director: Cryptocurrency and Central Bank Digital Currency Report Ready to Launch

Read also:

SEC announces postponement of decision on Valkyrie’s Bitcoin ETF

“Kraken” company, after years of providing cryptocurrency trading services…plans to provide stock trading services

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