Miami commissioner introduces resolution to allow tax payments through cryptocurrency
By Bob Garcia
The transition of digital currency toward a legitimate alternative to fiat continues
As time goes by, Miami has become more and more involved in the cryptocurrency universe. As proof of this, Miami-Dade County Commissioner Cohen Higgins is now backing a new resolution to allow all residents to pay their local taxes via cryptocurrencies such as Bitcoin. According to a document yesterday, Higgins introduced a resolution to the Miami-Dade Infrastructure, Operations, and Innovations Committee in order to formally request the creation of a 13-member cryptocurrency task force.
The goal of this working group is to pool as much knowledge as possible to see if it is really feasible for residents to pay taxes (fees and services) through digital currencies. It is believed that cryptographic payments could provide an improvement in convenience, while at the same time saving many costs, according to the document.
“The article would establish a working group that could delve into the feasibility of using cryptocurrencies in Miami-Dade County, to explore the potential benefits and pitfalls that could result from their use. It is important to explore all avenues that can support an expanding technology and the presence of new businesses for the benefit of our economy,” said Higgins.
If the resolution is approved, it would need to go to the full county commission for approval. The support of Miami Mayor Francis Suarez has undoubtedly been instrumental in the development of this innovation in the state. He has long campaigned aggressively to make Miami the most crypto-accessible state in the country.
Several experts have indicated that Miami residents could find these proposals very attractive, especially since a large part of its population comes from abroad. This makes sense, because, being a digital currency that is not tied to a specific country, many foreign residents will be able to invest without the need to pay exchange fees.