Miami-Dade County Task Force Is Looking at Ways for Residence to Pay Taxes Using Crypto

Miami-Dade County Task Force Is Looking at Ways for Residence to Pay Taxes Using Crypto

Florida-based county launches crypto task force to explore the possibility of paying state taxes using Bitcoin and cryptocurrency.

In a letter first made public by Miami New Times, Miami-Dade County commissioner Cohen Higgins brought up a resolution to set up a crypto task force that will investigate the possibility of paying state taxes and service fees using cryptocurrencies. The resolution was presented to the Miami-Dade’s Infrastructure, Operations, and Innovations Committee to establish a 13-member team.

The task force aims to find feasible ways residents could pay for their taxes and other county fees using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC). The letter further lined out the membership, organization, procedures, establishment, and task force functions.

BTC -2.76% Bitcoin / USD BTCUSD $ 61,606.31
-$1,700.33-2.76%
Volume 83.8 b Change -$1,700.33 Open $61,606.31 Circulating 18.68 m Market Cap 1.15 t
4 h Miami-Dade County Task Force Is Looking at Ways for Residence to Pay Taxes Using Crypto 4 h UK Hedge Fund Brevan Howard Plans to Invest 1.6% of $5.6B Capital in Cryptocurrencies 5 h Canada Launches First Inverse Bitcoin ETF to Short BTC Futures Without A Margin Account
ETH -3.62% Ethereum / USD ETHUSD $ 2,440.76
-$88.36-3.62%
Volume 36.12 b Change -$88.36 Open $2,440.76 Circulating 115.5 m Market Cap 281.9 b
4 h Miami-Dade County Task Force Is Looking at Ways for Residence to Pay Taxes Using Crypto 4 h UK Hedge Fund Brevan Howard Plans to Invest 1.6% of $5.6B Capital in Cryptocurrencies 8 h Crypto Lender Celsius Suffers Data Breach Through Third-Party Mailing List
LTC 7.78% Litecoin / USD LTCUSD $ 312.13
$24.287.78%
Volume 11.86 b Change $24.28 Open $312.13 Circulating 66.75 m Market Cap 20.84 b
4 h Miami-Dade County Task Force Is Looking at Ways for Residence to Pay Taxes Using Crypto 1 d Grayscale Bitcoin Trust (GBTC) Is Fast Approaching World’s Largest Commodity ETF, GLD with $57B AUM 3 d CoinShares is Launching an XRP ETP (XRPL) as the Digital Asset Nears $2

The commissioner called on the committee to embrace cryptocurrencies, and they “have reached a point that merits evaluation” in order not to miss “potential opportunities such as efficiency and cost-saving.”

The committee passed the letter on Thursday noon but still awaits the final committee decision by the full county commission.

The Miami-Dade County has recently caught several eyes in the crypto circles with a multi-million deal being struck with FTX crypto exchange. The exchange became the first crypto entity to sponsor a major professional sports venue as Miami Heat grounds switched from AmericanAirlines Arena to FTX Arena.

Miami Mayor Francis Suarez has also been at the forefront to enact Bitcoin-friendly laws in the city and has urged other administrators to follow suit. He announced a new CTO role in his management, a position that will overlook the city’s growth as a fintech hub and boost “Big Tech” companies relocating to Miami. He also previously stated Miami’s plans to add Bitcoin to its balance sheet.

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Author: Lujan Odera

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