Francis Suarez, who is the mayor of Miami, FL, plans to make the city appealing for companies that specialize in cryptocurrency and blockchain technology. His goal was stated in an article on Forbes that was published on Sunday, February 7. Lawmakers in Miami plan to look into the policies of other cryptocurrency-friendly regions, such as New York and Wyoming. These states have led efforts to create incentives around cryptocurrency and blockchain use. The goal is to offer similar incentives in Miami and perhaps Florida as a whole.
Suarez wants to make sure that Miami has the most progressive cryptocurrency laws. The community's leaders want to make sure that if policies are equal, Miami comes out as a clear winner. They want to equalize Miami as a great playing field and make sure that no other cities or states offer a significant advantage over the city. If the laws can easily be changed to promote the use of cryptocurrency and blockchain, they want to make it happen.
Suarez did not say how he plans to make Miami the regulatory winner in a fight with other jurisdictions. Instead, he gave the states of New York and Wyomic accolades on being smart in attracting firms that operate in the cryptocurrency niche. He added that all cities in the United States and around the world should be trying to grow their technology ecosystems. He added that they want to build incentives and enact legislation that will promote cryptocurrency, blockchain technology and a forward-thinking approach to economic growth and competitiveness.
Miami's mayor has made a lot of bullish statements about Bitcoin and cryptocurrency over the past month. Those statements included thoughts about paying Miami government workers in Bitcoin instead of United States dollars. He also proposed allowing Miami's residents to pay their bills, taxes and fees in Bitcoin. Suarez proposed investing some of the city's treasury funds in Bitcoin, which he admitted would be the most difficult of those options. Suarez has discussed his ideas with well-known people in the cryptocurrency community. Last week, Bitcoin said that its conference would be in Miami in June.