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($BTC), Bank Of New York Mellon Corporation (The) (NYSE:BK) - Miami Passes Mayor s Bitcoin Resolution: What You Need To Know

The resolution also “allows our residents to pay for fees in Bitcoin, and also would allow the city manager to cooperate with Miami-Dade county to allow for taxes to be paid in Bitcoin,” said Suarez. The city official said that the resolution also “requests of the state legislature that the City of Miami supports efforts to make Bitcoin an acceptable currency for us to potentially invest in the future.” Why It Matters: The commission approved the mayor’s resolution 4-1 but agreed only to study the cryptocurrency-related proposals instead of acting on them as the resolution had originally proposed, Bloomberg reported.

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($BTC), Bank Of New York Mellon Corporation (The) (NYSE:BK) - Miami Mayor Proposes Resolution To Allow Paying Employees, Invest City Treasury In Bitcoin

The resolution also “allows our residents to pay for fees in Bitcoin, and also would allow the city manager to cooperate with Miami-Dade county to allow for taxes to be paid in Bitcoin,” said Suarez. The city official said that the resolution also “requests of the state legislature that the City of Miami supports efforts to make Bitcoin an acceptable currency for us to potentially invest in the future.” Why It Matters: The commission approved the mayor’s resolution 4-1 but agreed only to study the cryptocurrency-related proposals instead of acting on them as the resolution had originally proposed, Bloomberg reported.

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