Miami-Dade County to start accepting taxes in Bitcoin
Bitcoin's adoption massively grew over the past year as several businesses, and corporate entities began accepting it as payment for goods and services. Governments have now started accepting it and the Miami-Dade County wants people to feel comfortable paying taxes in Bitcoin.
Miami-Dade to accept BTC for taxes
A new proposal submitted by South Dade's District 8 commissioner, Danielle Cohen Higgins, wants the county to consider allowing people to pay their taxes in Bitcoin. The proposal has received strong backing and could be implemented soon.If approved, county residents can pay for taxes, services and fees with Bitcoin, Litecoin and Ethereum. While presenting the case to the mayor, the resolution cites the rising use of cryptocurrencies in the United States and their adoption by private companies as payment methods, directly or indirectly.
The task force would be required to analyze crypto initiatives taken by other state or national governments before making any final decision. "In conducting its review, and without limitation to the generality of the foregoing, the Task Force shall also review and analyze efforts undertaken by other local, state, or national governments with regard to cryptocurrencies," the proposal added.
The task force that would look into the proposal's viability will be comprised of 13 members appointed by the board. Each member will have at least five years' experience in cryptocurrency, financial, banking, business development or cybersecurity industries.
City of Miami Mayor already a strong crypto supporter
The Miami-Dade County proposals come at a time when City of Miami Mayor, Francis Suarez, indicated massive support for cryptocurrencies. Mayor Suarez had, on numerous occasions, advocated for the growing adoption of cryptocurrencies and blockchain technology in Miami. He intends to turn the city into one of the leading cryptocurrency hubs in the United States.Earlier this year, Mayor Suarez passed a resolution that allows city employees to choose to receive a portion of their compensation in Bitcoin. Furthermore, the city now accepts payment for certain services in Bitcoin.
Miami's interest in cryptocurrencies is a way to attract businesses and ensure efficient and transparent processes in the city.
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