Crypto Retirement Plans Becoming an Attractive Option in US Cities

2021-12-13 14:43

Scott Conger, the mayor of Jackson, Tennessee, has become the latest to support the concept of implementing provisions that allow citizens to receive portions of their retirement funds in crypto.

On Dec. 12, Jackson Mayor Scott Conger responded to a report on Miami’s pro-crypto Mayor Francis Suarez stating that he is planning to take some of his 401K retirement in BTC.

Conger, a Bitcoin enthusiast, said that all Jackson employees will also have this option available to them soon.

All of our employees will soon have this option. The RFP [request for proposal] is out and proposals due on the 22nd.

A 401K is a U.S. company-sponsored retirement account whereby employees can contribute income, while employers may match contributions.

Mayor Conger has also established a blockchain task force to investigate accepting property taxes in Bitcoin.

More bitcoin for Miami mayor

On Dec. 10, Miami Mayor Francis Suarez said that he is currently exploring how he can practically receive Bitcoin as part of his retirement package.

I just think it is a good asset to be invested in. I think it’s one that’s obviously going to appreciate over time. It’s one that I believe in.

The 44-year-old added that he’ll start receiving crypto payments in the pension in 2022, and he has already begun receiving part of his salary in bitcoin using the Strike payments processor.

Suarez has also said that Miami residents would soon be able to pay their municipal fees in Bitcoin.

In August, Miami launched a token called MiamiCoin (MIA) in partnership with CityCoins, it has generated $30 million in revenue over three months according to Bloomberg.  

Speaking to the outlet earlier this month, Suarez said “Cities really only have two choices,” before adding that they can pretend it doesn’t exist, “or they can face those realities, embrace that disruption, embrace the change.”

Four crypto mayors and counting

Mayors Conger and Suarez are not the only ones bullish on bitcoin. In early November, New York City Mayor-elect Eric Adams said that Bitcoin should be taught in schools. The comments follow an earlier statement in which he said he would take the first three months of his pay as mayor in bitcoin.

In mid-November, the Mayor of Tampa, Florida, announced that she will also be accepting her salary in bitcoin. At the time, Jane Castor made the announcement at Florida’s Bitcoin & Blockchain Summit.

The post Crypto Retirement Plans Becoming an Attractive Option in US Cities appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0.0095806 (+7.58%)
Объем 24H $0
Изменеия 24h: 2.35 %, 7d: -7.78 %
Cегодня L: $0.0086651 - H: $0.0095806
Капитализация $183.154k Rank 1690
Доступно / Всего 19.117m EMD / 32m EMD

crypto retirement cities becoming plans option attractive

Источник: beincrypto.com

crypto retirement → Результатов: 63


Фото:

Hedge Fund Behemoth Marshall Wace Eyes Crypto Investment Foray

Crypto’s growing appeal among institutional investors is set to be reinforced further as London hedge fund behemoth Marshall Wace is looking to invest in cryptocurrency companies. From hedge funds to retirement funds, and even sovereign wealth funds, virtual currency is beginning to draw a stellar cast of backers from the legacy finance world. $55B AssetRead More

2021-7-7 21:00


“America on FIRE”: Congressional Crypto Hearing Focused on the Market Frenzy

Cryptocurrencies were once again the focus of the hearing of a subcommittee of the House Financial Services Committee on June 30. Right from the get-go, Congress was pretty clear on their bais with the hearing titled “America on ‘FIRE': Will the Crypto Frenzy Lead to Financial Independence and Early Retirement or Financial Ruin?” Instead of […] The post “America on FIRE”: Congressional Crypto Hearing Focused on the Market Frenzy first appeared on BitcoinExchangeGuide.

2021-7-2 20:54


Фото:

Some African Crypto Users See Bitcoin as an Alternative Source of Retirement Income

Bitcoin use cases in African countries continue to expand with the latest one being its use as an alternative source of retirement income. On a continent plagued by high inflation and unstable currencies, bitcoin, which is decentralized and censorship-resistant, is seen “as a safer source to contribute to for retirement.” According to a local report, […]

2021-5-2 11:30


Фото:

Crypto Retirement: US Investment Firm Launches Employer-Sponsored Bitcoin 401(k) Plan

The U. S. -based company Digital Asset Investment Management (Daim) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. The plan is an ERISA compliant employer-sponsored 401(k) and assets are held in institutional-grade cold storage by leveraging the custodian Gemini Trust.

2020-11-24 13:30


1 of BitMEX’s Most Profitable Traders Still Thinks Bitcoin Will Hit $30,000

If you’ve been on Crypto Twitter, you know of AngeloBTC, what some would call a “legendary”  Bitcoin investor. Indeed, prior to his effective retirement, he had over 3,000 BTC worth of registered notional profit on BitMEX, making him one of the most profitable traders on the platform. Ever. While he has since bowed out of...

2020-3-14 02:27


Coinbase, Regal, and Kingdom Trust Partner To Offer Bitcoin IRA & 401k’s Backed by $200M Insurance

Coinbase, known as the most prominent U.S. based crypto exchange, has recently started a partnership with the investment firm Regal Assets and the custodian Kingdom Trust. With the new partnership, the three companies will offer individual retirement accounts (IRA) and 401(k) accounts for clients based in the United States. In case you are not familiar […]

2019-11-15 00:46


Фото:

Legacy Trust Brings Cryptocurrency to Pensioners

Custody firm Legacy Trust announced the launch of a digital asset-based pension plan to allow the public to hold crypto for their retirement corpus. As per Coindesk, September 4, 2019, the Hong Kong-based firm will offer the scheme to employees of participating firms and self-employed individuals through an underlying portfolio of cryptocurrencies and fiat currencies.

2019-9-6 19:00


Bitcoin IRA Opens Retirement Accounts In Crypto As Retirement Portfolios Reach Record Highs

Bitcoin IRA, the largest Bitcoin retirement platform in the world, informed that investors are currently adding virtual currencies to their retirement portfolios as Bitcoin moves above $11,300. AT the same time, the company mentioned that they have seen more interest in the activity in the last six weeks than in over a year. Bitcoin IRA […]

2019-6-25 22:08


Institutional Investors are Already Turning to Crypto: Should You Fear Missing Out?

Two public pensions from Fairfax County, Virginia’s Police Officer’s Retirement System and Employees’ Retirement System, have invested in Morgan Creek’s new $40 million crypto fund. Anthony Pompliano, a Morgan Creek general partner, said that it is the first case in which public pensions have invested in the cryptocurrency market.

2019-2-12 18:28


дальше еще 14 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru