Miami has a dynamic mayor, lots of VC money and is coming off the largest ever crypto exAs Miami comes down from the “high” of having hosted the “largest-ever” Bitcoin event, it seems reasonable to ask: Does the Sunshine State’s entrepot really have what it takes to become “the world’s cryptocurrency capital?” — a new role foreseen by its dynamic mayor. If not, could Miami at least become the next Crypto Valley — i.e., a cradle for cryptocurrency and blockchain innovation like the Swiss canton of Zug?travaganza, but is that enough without legal clarity?
The optics certainly look good. As the New York Times noted in its coverage of last week’s Bitcoin 2021 gathering, “The city has gone full crypto,” with Bitcoin ATMs sprinkling Miami’s Wynwood neighborhood. Meanwhile, crypto exchange FTX has secured the naming rights for the Miami Heats arena, while there was also a proposal by Miami mayor Francis Suarez to allow citizens to pay taxes with cryptocurrency, among other things.
But others caution that a lot of hard work still awaits — and regulatory/legislative events have to take a favorable turn before Miami can lay claim to being the capital of anything in the rapidly evolving cryptoverse.
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