Miami mayor says residents will get cryptocurrency proceeds


(AP Photo/Lynne Sladky)

MIAMI (AP) — Miami’s mayor says he plans to distribute the proceeds from the city’s cryptocurrency to residents.

Mayor Francis Suarez said Thursday during an interview with a cryptocurrency news site that he was planning to convert the millions of dollars in proceeds MiamiCoin has created into a Bitcoin “dividend.”

He says Miami will be the first city in America to give a Bitcoin yield as a dividend directly to its residents.

Among the questions that still need to be answered, according to Suarez, are whether the dividends will go to taxpayers, residents, people who vote in the city or those who have Miami addresses.

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