Miami Mayor Francis Suarez was first to respond to a challenge from bitcoin investor and writer Anthony Pompliano, who tweeted, "It is time. Who is going to be the first American politician to accept their salary in bitcoin?"
Francis Suarez, mayor of Miami, speaks during the U.S. Conference of Mayors winter meeting in Washington, D.C., U.S., on Thursday, Jan. 20, 2022. Not to be outdone, Adams wrote, "In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor.
In the press release, Adams' office noted that the U.S. Department of Labor prohibits employees from being paid directly in cryptocurrency, but that anyone paid in U.S. dollars can have the funds converted prior to them hitting their account.
Will he be reporting that to the IRS? Can’t wait until governments around the world switch to cryptocurrency and eliminate the ability to hide transactions to avoid tax.
Curious, who paid the network fees and transaction fees? The city or the mayor? This could be an ethics violation if the city covered the fees and his salary in turn becomes higher than it should be. Possible misuse of taxpayer $$ cvpayne any thoughts
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NYC mayor Eric Adams receives first paycheck in the form of BTC and ETHEric Adams, the mayor of New York City, made good on a previous pledge by receiving via automatic conversion his first paycheck in the form of cryptocurrency. According to a Thursday morning statement from the mayor’s office, Adams’ paycheck was converted into BTC and ETH. “New York is the...
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