Florida fights for the status of U.S. cryptocurrency capital! Intended to open enterprises to pay taxes and fees with cryptocurrencies

Time:2021-02-27 Source: 1253 views Trending Copy share

As cryptocurrencies have gradually become large and accepted by the mainstream, some official institutions or local governments are also enthusiastically hoping to promote innovation by adopting cryptocurrencies. For example, in the 2022 budget announced last week by the governor of Florida, Ron De Santis, the state government officially proposed that the state government should allow companies to use cryptocurrency to pay for state fees.

According to the new annual budget, Ron De Santis has proposed to allocate $200,000 to the Florida Department of Financial Services (Florida Department of Financial Services) as a way to provide local businesses with direct use of cryptocurrency to pay taxes to the Department of State (Department of State) Service budget. The budget states: Florida encourages the use of cryptocurrency as a business tool to further increase Florida’s attractiveness to businesses and economic growth.

In addition, Ron De Santis proposed to allocate another 500,000 US dollars to explore the potential of blockchain technology for maintaining car records, verifying Medicaid eligibility, and detecting potential fraud.

Florida compiled a budget of 700,000 U.S. dollars in one breath and invested in friendly cryptocurrency and blockchain policies in order to strive to become the cryptocurrency center of the United States. Miami, one of Florida's major cities, is actively building the image of the global capital of bitcoin and cryptocurrencies. The Mayor of Miami, Francis Suarez, only announced last month that he intends to become the first lawmaker in the United States to accept Bitcoin as a salary; he once admitted that he holds Bitcoin and Ether.

In September of this year, the City Commission voted to accept funds generated from MiamiCoin. MiamiCoin is issued by the open source agreement CityCoins, and since the start of mining in August, it has created more than $21 million in revenue for Miami by mid-November. Francis Suarez has stated that in the future, the proceeds of MiamiCoin will be converted into Bitcoin, which will be distributed to all Miami residents as dividends. At the same time, he has also been trying to attract more miners to South Florida, and for this reason he discussed with the Department of Energy officials how to assist in mining.

Other states in the United States are also considering passing friendly cryptocurrency laws, but Miami is currently in the lead. Although the U.S. federal government is studying and planning to supervise cryptocurrencies, each state has introduced relevant policies that suit their own circumstances.

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