MIAMI (CBSMiami) – Miami Mayor Frances Suarez is making a major announcement regarding cryptocurrency.
He’s unveiling, “Miami Coin,” the city’s newest cryptocurrency initiative.
READ MORE: Broward Reinstates Indoor Mask Mandate For County-Owned Buildings
“This coin will help the city focus on ‘differentiating our economy,’” said Suarez.
So, how does the city benefit from this?
Suarez says whenever “Miami coin” is mined, the city will get 30 percent, which will go right into the city’s general fund.
MORE NEWS: Florida Supreme Court Justices Decline To Hear Mar-A-Lago Case
The mayor is claiming the Magic City has now become “The bitcoin capital of the world.”