Bitcoin adoption is increasingly increasing, with the blockchain now being used by governments in some jurisdictions as well as private businesses. A Miami-Dade County commissioner is now looking to form a task force to investigate crypto in the county’s public administration, with the aim of allowing bitcoin to be used in public services such as tax payments.
According to The Miami New Times, Miami-Dade County Commissioner Cohen Higgins has submitted a new resolution to the Infrastructure, Operations, and Innovations Committee, which seeks to establish a 13-member task force to research cryptocurrencies.
The primary aim of this task force will be to investigate the possibility of allowing people to pay their county taxes, as well as other fees and services, in Bitcoin and other cryptocurrencies such as Ethereum and Litecoin. Crypto payments, according to documents obtained by the media outlet, have the ability to improve convenience and reduce costs.
“The item would establish a task force that could delve into the feasibility of using cryptocurrency in Miami-Dade County, to explore any potential benefits and pitfalls that could result from its use. It is important to explore all avenues that can support an expanding tech and startup presence to benefit our economy,”Higgins noted.
The measure will be submitted to a committee in Miami-Dade, and if the resolution passes, it will need to be approved by the full county commission.
A similar initiative passed by the Miami city administration earlier this year is also included in the resolution. It called for a study to see if it was possible for Miami residents to pay taxes in Bitcoin and for city workers to be paid in Bitcoin. Miami Mayor Francis Suarez, who has been working to make Miami a crypto hotspot, suggested this.
It is beneficial to everyone
According to Hemang Subramanian, a blockchain-focused assistant professor at Florida International University’s business school, cryptocurrencies will be an appealing choice for Miami residents due to the city’s large population of people from various countries. Due to the decentralized nature of crypto, foreign investors and citizens would be able to avoid paying exchange fees when converting their home currency to the US dollar and vice versa.
Residents of some countries may even pay taxes in cryptocurrency. The Canton of Zug in Switzerland has recently begun accepting Bitcoin and Ethereum for tax payments, as previously stated by The Daily Chain.