Pay your taxes in Crypto? Florida says yes!

For many years, many American companies have been looking to expand their use of crypto currencies . And public finances are no exception. In the near or even very near future, taxes could in turn be paid through cryptos.

The American political system is unique, each state enacting its own rules. By looking at the freedoms and prohibitions posed by each of them, we can thus get a precise idea of ​​their orientations. Without a doubt, Florida is a big lover of the tech universe as a whole.

The Governor of Florida, Ron DeSantis , has just announced the preparation of new fiscal measures. These measures aim to authorize the payment of business taxes directly in cryptocurrencies , to the delight of the latter. And also to the delight of investors.

  • Objective: to make Florida a true crypto investment hub
  • The precious support of the mayor of Miami
  • Towards an increasingly decentralized currency

Objective: to make Florida a true crypto investment hub

It was predictable, but here we are. Florida is officially in the process of allowing businesses to pay their taxes in cryptocurrencies. A small revolution, yes. But in the digital age, it seems like an inevitable step forward . Especially for the cradle of tech startups.

Ron DeSantis is the name to remember. The Governor of Florida has made significant efforts to open the tax door to cryptocurrency assets. Openly pro-crypto, his goal is to make Florida a true crypto investment hub .

To carry out his ambition, he notably wants to allocate $200,000 to his financial services department so that he can accept payments in cryptocurrencies, and $500,000 to road safety for a pilot program exploiting blockchain technology.

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He thus seeks to make the State of Florida a virtuous circle in terms of new generation business. Do not tax business income, ease general taxation, encourage the installation of new businesses, and roll out the red carpet for blockchains and cryptocurrencies of all stripes. These are just a few examples of the stupendous actions of Ron DeSantis, actions that are pushing Florida ever closer to crypto-heaven status .

The precious support of the mayor of Miami

In this momentum of democratization of the use of cryptocurrencies, Francis Suarez is the second name to remember. Mayor of Miami (second largest city in the State of Florida), Francis Suarez is a major supporter of this project.

Straightforward, he notably took the initiative to receive his future salaries in Bitcoin (BTC) instead of dollars.

Previously, the mayor of Miami launched a token titled Miami Coin , the very first token specific to an American city. It goes without saying that his status as a former member of Florida’s BlockChain and Cryptocurrency Task Force explains his enthusiasm. This Task Force brings together specialists from various fields. She acts as a consultant on all legal, financial and technological issues related to blockchains and cryptocurrencies.

According to Francis Suarez: “Blockchain technology is the most secure technology on the planet”.

Thus, he joins the Governor of Florida to introduce blockchain technology in as many public domains as possible. Among the projects of these two innovative politicians, we note for example the health sector or that of education and schools.

crypto: Towards an increasingly decentralized currency

One of the main reasons cryptocurrencies are popular is that these currencies are decentralized . In other words, exchanges are faster , and financial power is better distributed .

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Indeed, a fear is shared by many experts: that of an overly centralized currency such as the digital dollar.

The risks of a centralized currency lie in the fact that power would thus be concentrated in the hands of a single authority. In this logic, economic players of all categories are moving towards more decentralized currencies. Among these economic players is the State of Florida.

The increased interest in cryptocurrencies finds its full meaning here. Unlike the digital dollar, cryptocurrencies operate on a completely decentralized system. DeFi , for example, for “Decentralized Finance” , aims to allow the transmission of value without an intermediary , with banks being the usual intermediaries. A simple internet access is enough. Moreover, as a decentralized currency, cryptocurrencies are not subject to any authority for their issuance, regulation and control.

The data of each transaction carried out through cryptocurrencies is thus stored in a fully decentralized manner. Blockchains are the support. In this context, financial power is therefore far from being monopolized.

The Governor of Florida, pro-crypto and above all very ambitious for the future of his State, thus has a double objective: to meet the growing demands of companies in terms of the use of cryptocurrencies, and to increase the attractiveness of his State .

Florida. Haven for business for a long time. And future paradise for crypto investors.

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Investing Press
Investing Press

we are passionate about science, new technologies, and web development and how to make money on the internet, we share with you tips, tutorials, guides, concerning the creation of blogs and everything related to Web 3.0 and of course the world of Cryptocurrency

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