Miami stakes the claim to become the world’s Bitcoin and crypto capital
June 11, 2021. Summarized by summa-bot.
Compression ratio: 25.2%. 2 min read.
Miami has a dynamic mayor, lots of VC money and is coming off the largest ever crypto extravaganza, but is that enough without legal clarity?
“Miami cannot do this without the Florida state legislature passing pro-crypto legislation,” Zachary Kelman, managing partner at Kelman Law, told Cointelegraph, which followed with a question about Bitcoin 2021 being a milestone event and harbinger of big things to come.
Lane Kasselman, chief business officer of Blockchain. com, which recently announced that it was moving its U. S. headquarters from New York to Miami, was understandably bullish about the company’s sunny new second home and told Cointelegraph, “Miami is already the [new] Crypto Valley, and the announcements last week prove it. ” Mayor Suarez is acting as a vocal proponent for technology investment in the region, he added, and “Miami’s welcoming regulatory environment will help fuel crypto innovation. ”
Thomas Nägele, an attorney who played a role in the evolution of Crypto Valley, told Cointelegraph, “I think that Miami is in a very good position to become a blockchain hub like the Crypto Valley in Switzerland and the crypto country Liechtenstein,” while adding several caveats:
Ian Simpson, senior marketing and communication manager at Bitcoin Suisse AG — a company based in the Crypto Valley — told Cointelegraph, “One challenge for larger cities and countries is that crypto can be ‘swallowed up’ by the wider tech ecosystem, and this can dilute the attractiveness to blockchain projects. ” He added, “Close contact and access to ideas, talent and quality services are some of the things that have made Switzerland’s Crypto Valley what it is.
When asked if Bitcoin 2021 should be viewed as a milestone event for the crypto and blockchain space, Simpson answered that while it was a welcoming event, particularly after all the lockdowns of the past year, “It does not seem to have marked any significant change or development in the community — and as we saw it had absolutely no effect on the markets. ”
“However, without federal legislative support, it is impossible for Miami to become the international crypto capital,” and recent signs “point to more onerous federal legislation rather than crypto-friendly laws in the near term. ”