Category: Francis Suarez

Crypto Is a ‘Major Priority’ for Miami Mayor Building City Into Crypto Capital of the World

Crypto Is a ‘Major Priority’ for Miami Mayor Building City Into Crypto Capital of the World

Miami Mayor Francis Suarez says that cryptocurrency is a “major priority” for him as he attempts to build his city into the crypto capital of the world. “I want us to differentiate ourselves as a crypto capital of the United States or of the world,” he said.
‘Major Priority’ — Miami Aims to Become Crypto Capital of the World
Miami Mayor Francis Suarez talked about bitcoin and cryptocurrency in an interview with Bloomberg, published Tuesday. The mayor has been lobbying lawmakers to allow government employees to be paid in bitcoin in addition to allowing taxes to be paid in the cryptocurrency and for the city to invest a portion of funds in BTC. He was asked how much of a priority crypto initiatives were for him.
Mayor Suarez replied:
It’s a major priority for me because I want us to differentiate ourselves as a crypto capital of the United States or of the world.
“We have actually done three things,” he shared. “One is that we are going to request a proposal in October to allow our employees to get paid in bitcoin, allow our residents to pay for fees in bitcoin, and even taxes in bitcoin if the county allows it.”

Regarding the state allowing the city to hold bitcoin on its balance sheet, he said: “Of course, if we would’ve been able to hold it the moment that I put the resolution on our agenda, it’d be up by 30% or 40%, so would’ve looked like a genius back then. But that’s the way it works.”
The pro-bitcoin mayor also defended BTC in an interview with Fox Business Tuesday. He was asked to comment about whether bitcoin was worthless like JPMorgan CEO Jamie Dimon said. The boss of the global investment bank said Monday, “I personally think that bitcoin is worthless.”
Suarez responded, “It’s definitely not worthless,” pointing out that the price of bitcoin is currently around $55,000.
What do you think about Miami Mayor Suarez’s comments? Let us know in the comments section below.

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US Lawmakers See China’s Authoritarian Crackdown on Crypto as Big Opportunity

US Lawmakers See China’s Authoritarian Crackdown on Crypto as Big Opportunity

Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.”
US Lawmakers Comment on China’s Cryptocurrency Crackdown
Following the latest news of China’s crackdown on cryptocurrency, several U.S. lawmakers have shared their views on the situation.
Senator Pat Toomey from Pennsylvania said:
China’s authoritarian crackdown on crypto, including bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China.
“Beijing is so hostile to economic freedom. They cannot even tolerate their people participating in what is arguably the most exciting innovation in finance in decades,” he added. “Economic liberty leads to faster growth, and ultimately, a higher standard of living for all.”
The pro-bitcoin senator from Wyoming, Cynthia Lummis, who has been trying to educate her colleagues in Congress that bitcoin is a great store of value, chimed in. Commenting on Toomey’s tweet, she wrote: “Gradually, then suddenly. Closer to the ‘suddenly’ phase by the day. Keep up the education on the Hill. It’s spreading.”
Congressman Tom Emmer from Minnesota opined: “Digital. Authoritarianism. China is forcing its citizens away from decentralized currency and onto the digital yuan so the CCP can track all money movements. You fear Big Brother? Then you should also fear what the Fed might be designing.” Federal Reserve Chairman Jerome Powell recently said that the Fed will soon publish a discussion paper on a central bank digital currency (CBDC). Emmer further stated:
Open. Permissionless. Private. If China bans it, you know it’s something worth fighting for.

U.S. Representative Warren Davidson from Ohio described: “America has an incredible opportunity to protect personal digital wallets, embrace true distributed ledger technology, and strengthen our advantage over China’s authoritarian Communist Party.”
Miami Mayor Francis Suarez, who is trying to make his city a bitcoin hub, stressed: “China banning bitcoin is a massive mistake with impacts that will be felt for generations. Their loss is our gain and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin.”
Congressman Patrick McHenry from North Carolina concurred with the mayor of Miami. “You’re exactly right Mayor Francis Suarez,” he replied to the mayor’s tweet, emphasizing:
China’s decision to restrict access presents a perfect opportunity for American leadership on cryptocurrency.
Do you agree with these U.S. lawmakers? Let us know in the comments section below.

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China, China crackdown, china crypto crackdown, cynthia lummis, Francis Suarez, miami mayor, pat toomey, patrick mchenry, pboc crypto, tom emmer, US government, us senators, Warren Davidson

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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