Miami will distribute bitcoin proceeds from MiamiCoin pledge to citizens

Miami will distribute bitcoin proceeds from MiamiCoin pledge to citizens

2021/11/12

According to reports, the Mayor of Miami, Francis Suarez, announced on Thursday that the City of Miami would soon issue "bitcoin proceeds" to its citizens through the pledge of MiamiCoin. Suarez said: "We will be the first city in the United States to directly provide residents with bitcoin income as a bonus." It is reported that MiamiCoin was launched at the beginning of this year and has earned more than 21 million U.S. dollars for Miami in the past three months. Suarez pointed out that if you calculate this income on an annual basis, it is roughly equivalent to one-fifth of Miami's total annual tax of $400 million. The payment will be made through a digital wallet. The city will work with various cryptocurrency exchanges to allow its residents to obtain a digital wallet, register, and verify.

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