Resolution 2022-32007RESOLUTION NO; 2022-32007
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, DIRECTING THE CITY ADMINISTRATION,
INCLUDING THE FINANCE DEPARTMENT AND MARKETING AND
COMMUNICATIONS DEPARTMENT, TO (1) EXPLORE OPPORTUNITIES, AND
POTENTIAL BENEFITS TO THE CITY, ITS RESIDENTS AND BUSINESSES,
FOR THE CITY TO ENGAGE IN THE CRYPTOCURRENCY SPACE,.
INCLUDING BY ATTRACTING CRYPTOCURRENCY AND OTHER FINANCIAL
TECHNOLOGY ("FINTECH") ENTITIES OR BUSINESSES TO MIAMI BEACH,
AND (2) PROVIDE THE CITY COMMISSION WITH A REPORT VIA LETTER TO
COMMISSION WITHIN 90 DAYS ON POTENTIAL OPPORTUNITIES WHICH
MAY BE AVAILABLE TO THE CITY WITH RESPECT TO CRYPTOCURRENCY.
WHEREAS, cryptocurrency is a digital or virtual currency and digital asset that is based
on a network distributed across a large number of computers; and
WHEREAS, Miami -Dade County has created the Miami -Dade County Cryptocurrency
Task Force to study the feasibility of accepting cryptocurrency as a form of payment for taxes,
fees, and services; and
WHEREAS, municipalities throughout the United States, including in South Florida, are
beginning to explore how they can interface with, and implement the use of cryptocurrency for a
variety of purposes; and
WHEREAS, the City of Miami is the first municipality in South Florida to create its own
cryptocurrency, MiamiCoin; and
WHEREAS, the purpose of MiamiCoin is to create a new revenue source for the City of
Miami, which could potentially permit the City of Miami to reduce taxes or fees; and
WHEREAS, in an effort to supplement the activity and findings of the County Task Force,
the City Commission desires to research and identify any opportunities that may be unique to the
City of Miami Beach.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City
Commission hereby direct the Administration, including the Finance Department and Marketing
and Communications Department, to (1) explore opportunities, and potential benefits to the City,
its residents and businesses, for the City to engage in the cryptocurrency space, including by
attracting cryptocurrency and other fintech entities to Miami Beach, and (2) provide the City
Commission with a report via Letter to Commission within 90 days on potential opportunities which
may be available to the City with respect to cryptocurrency.
PASSED and ADOPTED this o?O
day of 2022.
ATTEST:
""-/X/ JAN 2 5 2022,
Raf I E. Granado, City Clerk
Sponsored by Commissioner Alex Fernandez
Dan Gelber, Mayor
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
1 _? u --2Z
City Attorney Date
C7 - Resolutions AO
MIAMI BEACH
COMMISSION MEMORANDUM
TO: Honorable Mayor and Members of the City Commission
FROM: Commissioner Alex Fernandez
DATE: January 20, 2022
SUBJECT. A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, DIRECTING THE CITY ADMINISTRATION,
INCLUDING THE FINANCE DEPARTMENT AND MARKETING AND
COMMUNICATIONS DEPARTMENT, TO (1) EXPLORE OPPORTUNITIES,
AND POTENTIAL BENEFITS TO THE CITY, ITS RESIDENTS AND
BUSINESSES, FOR THE CITY TO ENGAGE IN THE CRYPTOCURRENCY
SPACE, INCLUDING BYATTRACTING CRYPTOCURRENCYAND OTHER
FINANCIAL TECHNOLOGY CFINTECH") ENTITIES OR BUSINESSES TO
MIAMI BEACH, AND (2) PROVIDE THE CITY COMMISSION WITH A
REPORT VIA LETTER TO COMMISSION WITHIN 90 DAYS ON
POTENTIAL OPPORTUNITIES WHICH MAY BE AVAILABLE TO THE CITY
WITH RESPECT TO CRYPTOCURRENCY.
RECOMMENDATION
Pursuant to the request of Commissioner Alex Fernandez the above -referenced Resolution is
submitted for consideration by the Mayor and City Commission at the January 20, 2022 City
Commission Meeting.
SUPPORTING SURVEY DATA
N/A
Applicable Area
Citywide
Is this a "Residents Right
to Know" item, pursuant to
City Code Section 2-14?
Yes
Legislative Tracking
Commissioner Alex Fernandez
/ATTACHMENTS:
Does this item utilize G.O.
Bond Funds?
No
Page 562 of 1313
Description
Resolution
Page 563 of 1313