What Will Be the First US City With its Own Cryptocurrency?

Guess what will be the first US city with its own cryptocurrency, probably you can imagine it. Keep reading and discover what city are we talking about. Read on!

Guess what will be the first US city with its own cryptocurrency, probably you can imagine it. Keep reading and discover what city are we talking about. Read on!

The use of cryptocurrencies, with Bitcoin (BTC), Ether (ETH) and other altcoins topping all-time peaks in value, continues to expand around the world, leveraged on the growing popularity of blockchain technology.

The adoption boom is such that the same countries began to issue their own digital currencies (known as CBDC or central bank digital currency), to gain popularity in the sector and to attract their citizens back to the sovereign monetary economy.

The use of cryptocurrencies, with Bitcoin (BTC), Ether (ETH) and other altcoins topping all-time peaks in value, continues to expand around the world, leveraged on the growing popularity of blockchain technology.

China with the e-yuan or the United States with the digital dollar are some of the most prominent examples. However, one city surprised by announcing that it would launch its own digital currency, and if so, it would be the first in the world to take such an initiative.

It is Miami, which will launch its "MiamiCoin", a cryptocurrency that, according to the CityCoins page, is intended to support the projects of the "Magic City" while benefiting its holders.

The purchase of this virtual currency is a "way to support your city and grow your crypto treasury while obtaining returns from Bitcoin BTC and Stacks STX," explained CityCoins on its website.

Even, according to the Miami Herald, up to 30% of the funds raised by the new digital asset will be used to pay for new initiatives in the city.

It is Miami, which will launch its "MiamiCoin"

Although the Mayor of Miami is not associated with this initiative, its councilor, Francis Suárez, is known for being an enthusiastic defender of cryptocurrencies, with Bitcoin at the helm, in the southern Florida city.

Last June, on the occasion of the Bitcoin 2021 conference in Miami, Suárez said he was very happy that his city was chosen to succeed Los Angeles as the venue for the conference and commented that for months "an unprecedented amount of companies, technology and investors" had chosen it to move.

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