Miami-Dade County in Florida has approved a resolution to create a task force to study the feasibility of accepting cryptocurrency as a form of payment for taxes.
- The Cryptocurrency Task Force will offer recommendations around other potential policies related to crypto that could prove advantageous, according to an announcement Wednesday.
- First and foremost, the task force will explore how Miami-Dade could accept crypto as a method of payment for taxes, fees and services.
- The task force also intends to meet with Cheyenne, Wyoming-based American CryptoFed DAO, the first legally recognized decentralized autonomous organization (DAO) in the U.S., and other legislators and regulators in Wyoming to discuss crypto and blockchain initiatives.
- Wyoming has attempted to attract investment in recent years through establishing itself as a crypto and blockchain-friendly state, passing legislation in April to legally recognize DAOs, companies whose governance is built on smart contracts and where decision making is shared around the organization.
- The City of Miami is another jurisdiction to have adopted such a stance, thanks to some degree to its pro-crypto Mayor Francis Suarez.
Read more: Is Crypto Miami for Real?
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.