Pro-Bitcoin Miami Mayor Jumps Into Presidential Race

By Kevin • June 14, 2023 10:28 pm • Comments

It looks like the number of pro-crypto presidential candidates is continuing to increase as time goes on which indicates there is strong demand to change the regulatory environment for crypto.

Bitcoin-friendly Miami Mayor Francis Suarez just filed his candidacy to run for President under the Republican nomination.

Suarez has already been very public about his support for Bitcoin as had made previous vows to make Miami a Bitcoin hub and even accepted his own salary in Bitcoin.

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Whether or not he can take these pro-crypto views to the federal level is another story, but having more candidates who share this view will benefit the crypto industry.

Suarez will be facing against other candidates like Florida Governor Ron DeSantis who has also shared his views on crypto.

CoinDesk reports:

Suarez, who touted bitcoin’s “democratizing impact on the future of wealth for every American” in a 2021 interview with CoinDesk, has examined ways to accept taxes and pay municipal employees in the currency.

He also announced MiamiCoin (MIA), built on the Bitcoin adjacent blockchain, Stacks, which he hoped could someday pay a recurring BTC stimulus to Miami citizens.

By 2022, MIA had shed roughly 95% of its value from an all-time high of around 5 cents eight months earlier, according to data from CoinMarketCap.

In March, crypto exchange OKCoin suspended the trading of MIA – and a second city coin, NYCCoin – citing limited liquidity as the reason for the decision.

Suarez had also been looking to allocate some of Miami’s treasury reserves to Bitcoin which indicates his strong trust in the digital asset.

In addition, he has been supporting more ways to use digital assets such as paying taxes and using it within 401(k) plans.

All of these views indicates that he is another strong crypto candidate who will be facing off against opponents who are very much against Bitcoin such as Joe Biden or Donald Trump.

If the next president has a positive stance on the industry, it could give the industry the push it needs to hopefully reform the SEC which has been targeting crypto companies recently.

Bitcoin.com reports:

Additionally, the ad highlights the declining crime rate in Miami since Suarez assumed office. In the realm of cryptocurrencies, Suarez holds an advantage due to his advocacy. The same cannot be said for Joe Biden or Donald Trump, both of whom have expressed disdain for bitcoin and the cryptocurrency industry in general.

However, Suarez will face competition from other candidates who do support bitcoin and the crypto sector. One such candidate is Robert F. Kennedy Jr., a Democratic contender who recently announced his campaign’s acceptance of BTC.

Kennedy is also critical of a central bank digital currency (CBDC) and believes it could lead to financial tyranny. On the Republican side, DeSantis also opposes a CBDC and has demonstrated a friendly stance toward crypto assets.

Additionally, Suarez will contend with Vivek Ramaswamy, a Republican bureaucrat who is also crypto-friendly and accepting bitcoin (BTC) for campaign contributions.

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