Crypto-friendly mayor of Miami runs
Mayor Francis Suarez of Miami, Florida, announced his candidacy for the Republican nomination for the US presidential election on the 15th. Suarez is known as the mayor who promotes crypto assets (virtual currency).
Another virtual currency supporter has joined the race for the US presidential nomination.
Mr. Suarez said, “I want to make Miami the center of virtual currency,” and was promoting a bill that would allow salaries to be paid in Bitcoin. In 2021, he also announced that he will receive 100% of his salary in Bitcoin (BTC).
connection: Mayor of Miami, US to receive 100% of salary in Bitcoin
Suarez spoke at an event on the future of the US economy in January this year. In doing so, he said the first step for legislators working on crypto regulation is to recognize the importance of crypto technology.
Issues such as the national debt ceiling and inflation show the value of having such a currency “outside the mainstream fiat currency system,” he continued.
On the other hand, when the topic turned to the collapse of major crypto exchange FTX, Suarez also acknowledged that cryptocurrencies need regulation, saying:
There should have been regulations around what these custodians could do with their assets in custody.
These institutions were like banks, and their holdings were enormous. There is a reason that some level of regulation already exists in the banking industry.
What is custody
Refers to holding and managing assets on behalf of investors. A term widely used for assets other than virtual currency. It refers to a service that performs a wide range of operations, such as asset custody, settlement related to trading, receipt of principal and interest, dividends, and exercise of voting rights. A company that performs custody is called a custodian.
Positive Candidates for Bitcoin
Florida Governor Ron DeSantis announced last month that he would be running for the Republican presidential nomination. He also cites defending Bitcoin as one of his policies.
connection: Candidates vowing to “protect bitcoin” will also focus on virtual currency policy in the 2024 presidential election?
On May 24, Mr. DeSantis invited Elon Musk and others to a talk event on Twitter. At the meeting, the Biden administration was critical of Bitcoin and said that if Mr. Biden is re-elected, the future of Bitcoin will be in jeopardy.
In 2021, DeSantis signed a bill that would clearly define cryptocurrencies in Florida state law and allow individuals to trade in cryptocurrencies without obtaining a license. He also claims that by 2022, he should allow businesses to pay taxes in cryptocurrencies in the state.
Among those running for the Republican nomination, entrepreneur Vivek Ramaswamy is also positive about Bitcoin. “Bitcoin should not be regulated as a security,” he said at a cryptocurrency related event.
Among Democrats, Robert F. Kennedy Jr. has said that he will also accept Bitcoin for campaign donations. He has said that if elected president, he would like to ensure that the right to own and use bitcoin is inviolable.
Kennedy, the nephew of former President John F. Kennedy, has shown his support for Bitcoin from a democratic point of view.
connection: US presidential candidate to accept donations of virtual currency bitcoin