Latest News

Mayor reveals that Miami Coin has generated $7 million for the city

Miami generates $7.1 million from a partnership where its residents uses a crypto protocol. This is part of Mayor Francis Suarez longer-term plan of a tax-free city.

Furthermore, report from the Washington Post reveals Miami’s partnership with the CityCoins protocol.

Noting, it saw profits in millions since the unveiling of the city’s token in August. Notably, Residents hold and trade “MiamiCoin” on the protocol representing stake in a municipality.

Also, there’s a percentage from the coins for Those running the software, where users get 70% and 30% returning to the municipality.

Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

Related Posts – AMC Theatres Explores Accepting Dogecoin, CEO Sees Awing DOGE Poll Results

Also, Related Posts – AMC Theatres Explores Accepting Dogecoin, CEO Sees Awing DOGE Poll Results

Suarez is very bullish on the software. He places expectations that “Miami Coin” will generate $60 million for the city over the course of the year.

Additionally, Suarez is putting up more efforts to make Miami more attractive to crypto businesses. More so, he plans integrate the city services with the Ethereum blockchain. Working towards making crypto dealings easy in the city.

“We’re looking at a variety of things from being able to make payments in crypto, in bitcoin, in particular..,”
“…being able to pay your taxes, being able to pay fees to the city,” he explains on the April episode.

Conclusively, he’s setting his focus on mining for Miami.

picture credit – citycoins twitter

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.