Florida, businesses will pay taxes in crypto

Florida Governor Ron DeSantis, in his budget proposal for the year 2022-23, has called for allowing businesses to be able to pay their state taxes in cryptocurrencies.

More specifically, in his “Freedom First Budget“, he suggested allocating $200,000 to the state’s Department of Financial Services, to give them the means to be able to accept state corporate taxes in cryptocurrencies.

The importance of extending the use of blockchain technology to other contexts

Ron DeSantis did not only focus on the payment of taxes in cryptocurrencies but extended the topic by highlighting the extraordinary potential and applications of blockchain technology.

He also proposed to allocate an additional $500,000 to explore the use of blockchain technology, proceeding with a pilot programme within the Department of Highway Safety. 

The technology could automate and verify various processes, such as the monitoring of vehicle records. 

The governor also added that blockchain technology should also be used in the health sector, as it would allow for the authentication of processes such as Medicaid transactions and the detection of fraud.

Florida, a state that wants to be crypto-friendly

The political objective seems to be to make Florida a crypto-friendly state. After all, encouraging cryptocurrencies and accepting them as an alternative method of payment makes the state more attractive to potential entrepreneurs, which in turn boosts the country’s economic growth.

Florida, more specifically Miami, is becoming a crypto hub; even the mayor himself, Francis Suarez has declared that he will receive his first paycheck in Bitcoin, later defining blockchain technology as “the most secure on the planet”.

Finally, Miami has also launched the first state token known as MiamiCoin but the really interesting thing is that the mayor plans to distribute the earnings of the token itself to residents.

All in all, New York and Miami are the two largest cities in the United States that are trying to approach the world of cryptocurrencies in a productive and intelligent way. 

Even the mayor of the Big Apple, Eric Adams, is receiving his salary in BTC and has proposed introducing a course on cryptocurrencies and blockchain technology in schools.