Miami is ‘Hot’ for Crypto

Miami offers so much to its residents and tourists from around the world. What’s next on the horizon for Miami?

The city of Miami, Florida is looking to become a major crypto hub; and, this goal seems to be achievable under the leadership of Mayor Suarez. Mayor Suarez states, “I’m working day and night to turn Miami into a hub for crypto-innovation, [and] we’re excited to be a trend‑setting city at the forefront of crypto and blockchain technology.” The city of Miami believes in cryptocurrency, especially Bitcoin, and “is dedicated to becoming a model 21st century city.” The city states that they believe this means “embracing and supporting disruptive technologies that challenge the status quo and improve how we interact with one another.” Although the city believes in the power of cryptocurrency and blockchain technology, measures must be taken to assure its status as a major crypto hub. Luckily for the city, Suarez is on it!

Mayor Suarez is committed to putting incentives in place, creating an equity framework, and passing more progressive crypto legislation. He wants to establish a pro crypto and blockchain ecosystem with a “regulatory environment for businesses to become chartered banks, like Kraken or Avanti, as well as welcoming crypto exchanges to operate in the city.” Essentially, Suarez is looking to replicate a legislative structure like Wyoming. In a statement, the mayor asserts “we want to make sure that there is no city or state that has more favorable laws and regulations.” In addition to passing forward-looking legislation, Suarez has taken steps to advance a pro-crypto ecosystem. In an effort to position the city as an innovation hub, the mayor hired a new innovation advisor to act as a “concierge” for cryptocurrency entrepreneurs and tech-based firms. Additionally, to boost Miami’s status as a crypto-hub, Suarez has made an effort to promote cryptocurrency transparency and education to the general public. Suarez takes pride in announcing that Miami was and is the first municipal government to host Satoshi’s Bitcoin whitepaper on a government-based site. As a result of this decision, the whitepaper and his action went viral; the whitepaper got 2.3 million plus impressions.

Suarez believes that his plan to make Miami the next big crypto hotspot will be advantageous to the city’s residents. Besides positioning the city at the “forefront of American innovation,” he is committed to give every resident the opportunity to succeed and prosper in a robust economy that is ahead of others. He aspires to achieve three major concepts; he states, “One is I want to be able to give my employees the ability to take a percentage of their salary in Bitcoin and crypto. Two, I want our residents to have the ability to make payments of taxes and fees in crypto. And the third thing is including Bitcoin as a part of the city’s investment portfolio.”

Suarez believes that Miami is the perfect location for a crypto and blockchain hub for several reasons. The city has had a long-term determination to attract tech-based companies and create a booming economy, where its residents can thrive. Since the pandemic has struck, the rate of migration has accelerated; many entrepreneurs and investors have realized the city’s potential and benefits and have begun to relocate from traditional tech-based hotspots to emerging hubs and startup ecosystems. Besides Miami’s attractive lack of a state income tax, its work environment and climate seems to be the most ideal location to have a great work-life balance.

With the dedicated influence of Mayor Suarez, Miami is on the rise to become a major crypto and blockchain hub, and this writer is really excited to see, first-hand, the transformation this year.

Next week, I will discuss Nevada’s race to become the new tech and crypto hub of the United States, stay tuned for a follow-up blog post soon. Stay tuned.

Jordana Cohen, Writer and Associate, Alpha Sigma Capital

Jordana joined Alpha Sigma Capital in November 2020 as writer and associate. Jordana graduated magna cum laude from Tulane University with a business major in finance and a minor in Spanish. In addition to her academic accomplishments, she has substantive experience in management and marketing endeavors through her establishment of several start-up events to fundraise for pediatric cancer research. Alpha Sigma Capital is a pioneering digital asset fund that invests in growth companies, private and public equity, mergers and acquisitions, and special situations. Alpha Sigma Capital believes in a fundamental research approach for investing and supporting the blockchain economy; and, it is rigorous in determining the value of such organizations.

Sources:

https://www.coindesk.com/miami-mayor-previews-favorable-crypto-policy

https://www.forbes.com/sites/leeorshimron/2021/02/07/miami-mayor-francis-suarez-talks-bitcoin--building-a-tech-innovation-hub/?sh=c0e07641a537

https://cities-today.com/miami-appoints-innovation-advisor-in-cryptocurrency-push/

https://cointelegraph.com/news/miami-mayor-says-city-employees-should-be-able-to-take-their-salaries-in-bitcoin

https://hoteljules.com/what-is-miami-known-for/

Associate at Alpha Sigma Capital; University of Miami School of Law Class of 2024; Magna cum laude graduate from Tulane University Business School.