Miami’s Suarez Assumes Leadership of Conference of Mayors, Urges Cities to Embrace Cryptocurrencies

Recently, Miami Mayor Francis Suarez assumed the leadership of the U.S. Conference of Mayors. He vowed to promote tech innovation and proposed that cities join what he calls a “crypto-compact.”

Suarez, who is a champion of technology and has fully embraced bitcoin Bitcoin, stated that cities should be proactive in pursuing a crypto regulation that will nurture success and excellence rather than turning away the growing industry.

It was not immediately clear what specific initiatives Suarez might bring to the crypto pact. Suarez has been promoting digital assets by simple gestures such as sharing the Bitcoin White Paper online and accepting a paycheck in cryptocurrency. This won him praises from crypto entrepreneurs and attracted high-profile relocations. However, his boldest idea was to invest city funds in Bitcoin. Unfortunately, the idea was rejected by the city commission, because investing municipal funds into such volatile assets happens to be illegal in Florida.

Established in 1932 to coordinate urban policy, the Conference of Mayors is composed of the mayors of cities that have at least 30,000 inhabitants.  They usually convene at least twice a year to tackle a variety of issues. Suarez will succeed Nan Whaley, the mayor of Dayton (Ohio), to become the 80th president of the organization.

“I’m going to ask my friends, my brothers and sisters, the mayors of this country to sign on to a mayoral crypto compact, because we need to lead in the absence of leadership. We need to make sure that a generation of prosperity and innovation is not lost because of a lack of innovative spirit,” Suarez said.

“We need to make sure that our regulatory system embodies success into the future instead of stifling success,” Suarez added.

For South Florida cryptocurrency enthusiasts, 2021 was an exciting year. Miami has been grooming itself to become the capital of the blockchain industry in America.

Miami has even hosted the largest ever crypto conference and launched its own coin bearing its name. The city also welcomed a variety of companies who moved to Miami’s Brickell Avenue financial district and established outlier offices.

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