Seminole County is the first US government agency to accept cryptocurrency as payment for county services. And according to a coinmap.org study, Tampa and Miami are ranked in the top 10 bitcoin-friendly cities in the world. With cryptocurrency usage growing, Florida’s Chief Financial Officer plans to regulate the industry.
CFO Jimmy Patronis wants to hire a cryptocurrency chief. Operating independently of a bank via the internet, cryptocurrency is an untraceable, digital money. Communications Director Anna Alexopoulos Farrar says the Federal government has launched an international coalition to investigate cryptocurrency tax crimes. Farrar says the state regulator would also help prevent fraud.
“CFO Patronis recognizes that cryptocurrency in this state continues to expand and grow, and it’s important that we have somebody whose sole focus and priority is to monitor what’s going on with cryptocurrency, see where we can meet with stakeholders and consumers, and also make sure Floridians aren’t being taken advantage of," says Farrar.
The CFO’s staff is currently coordinating with the US Securities and Exchange Commission’s cryptocurrency advisor to discuss how to protect crypto consumers in Florida.