Miami will distribute bitcoin proceeds from MiamiCoin pledge to citizens

The Mayor of Miami, Francis Suarez, announced on Thursday that the city of Miami will 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 earnings 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 done through a digital wallet, and the city will work with various cryptocurrency exchanges to allow its residents to obtain a digital wallet, register and be verified.