Miami-Dade Legislative Item
File Number: 210817
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File Number: 210817 File Type: Resolution Status: Adopted
Version: 0 Reference: R-455-21 Control: Board of County Commissioners
File Name: CREATE CRYPTOCURRENCY TASK FORCE Introduced: 4/1/2021
Requester: NONE Cost: Final Action: 5/4/2021
Agenda Date: 5/4/2021 Agenda Item Number: 11A9
Notes: SUNSET 364TH DAY Title: RESOLUTION ESTABLISHING A MIAMI-DADE COUNTY CRYPTOCURRENCY TASK FORCE; PROVIDING FOR MEMBERSHIP, ORGANIZATION, AND PROCEDURES, AND ESTABLISHING PURPOSE, FUNCTION, RESPONSIBILITY AND SUNSET PROVISION
Indexes: NONE
Sponsors: Danielle Cohen Higgins, Prime Sponsor
  Oliver G. Gilbert, III, Co-Sponsor
  Sally A. Heyman, Co-Sponsor
Sunset Provision: Yes Effective Date: Expiration Date:
Registered Lobbyist: None Listed


Legislative History

Acting Body Date Agenda Item Action Sent To Due Date Returned Pass/Fail

Board of County Commissioners 5/4/2021 11A9 Adopted P
REPORT: During the meeting, it was moved by Commissioner Garcia to reconsider Agenda Item 11A9. This motion was seconded by Commissioner Heyman and upon being put to a vote, passed by a vote of 13-0.

County Infrastructure, Operations and Innovations Committee 4/15/2021 2D Forwarded to BCC with a favorable recommendation P

County Attorney 4/2/2021 9:57:04 AM Referred County Infrastructure, Operations and Innovations Committee 4/15/2021

County Attorney 4/1/2021 Assigned Michael B. Valdes 4/2/2021

Legislative Text


TITLE
RESOLUTION ESTABLISHING A MIAMI-DADE COUNTY CRYPTOCURRENCY TASK FORCE; PROVIDING FOR MEMBERSHIP, ORGANIZATION, AND PROCEDURES, AND ESTABLISHING PURPOSE, FUNCTION, RESPONSIBILITY AND SUNSET PROVISION

BODY
WHEREAS, in the United States over the past several years there has been an increase in the use of digital currencies and cryptocurrencies—decentralized digital currencies based on blockchain technology such as Bitcoin, Ethereum, and Litecoin—as both an asset and a method of payment; and
WHEREAS, in response to this growing demand, large U.S. retailers such as AT&T, Microsoft, Overstock, and Home Depot have recently begun to accept cryptocurrencies as a form of payment either directly or indirectly through third-party payment processers such as BitPay; and
WHEREAS, in 2019, the Florida Legislature established the Florida Blockchain Task Force to study if and how state, county, and municipal governments can benefit from a transition to a blockchain-based system for recordkeeping, data security, financial transactions, and service delivery and identify ways to improve government interaction with businesses and the public; and
WHEREAS, the City of Miami (the “City”) enacted Resolution No: R-21-0075 on February 11, 2021, which initiated a study to determine the feasibility of (i) allowing its employees to choose to receive all or a portion of their compensation in bitcoin, (ii) creating a process for the City to receive payments in bitcoin, and (iii) making limited investment of City funds in bitcoin; and
WHEREAS, on March 26, 2021, this Board approved a $135 million naming rights agreement with West Realm Shires Services Inc. dba FTX.US (“FTX”)—a leading digital asset exchange for the purchase and trading of cryptocurrencies and other digital assets in the United States—to name the County-owned arena that currently serves as the home of the Miami Heat as the “FTX Arena”; and
WHEREAS, this Board agrees that blockchain technology and cryptocurrencies have reached a point that merits evaluation as to potential opportunities they may provide for efficiency and cost-savings; and
WHEREAS, allowing Miami-Dade County to accept cryptocurrencies as a form of payment for County taxes, fees, and services is one application of blockchain technology that has the potential to enhance convenience and save on costs; and
WHEREAS, additional study on the cost, feasibility, and security of these systems is merited prior to the adoption of any of these new payment methods,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:
Section 1. The Miami-Dade Cryptocurrency Task Force (“Task Force”) is hereby created.
Section 2. The Miami-Dade Cryptocurrency Task Force is established for the purpose of: (a) studying the feasibility of Miami-Dade County accepting cryptocurrency and other digital monetary forms as an acceptable method of payment for County taxes, fees, and services; (b) identifying any costs associated with accepting cryptocurrency and other digital monetary forms as an acceptable method of payment for County taxes, fees, and services; and (c) providing recommendations to the Board on other policy initiatives relating to cryptocurrencies that would be advantageous to Miami-Dade County. In conducting its review, and without limitation to the generality of the foregoing, the Task Force shall also review and analyze efforts undertaken by other local, state, or national governments with regard to cryptocurrencies.
Section 3. The Task Force shall be comprised of 13 members appointed by the Board (one member by each County Commissioner). Each member of the Task Force shall have at least five years’ experience in the cryptocurrency, financial, banking, business development, or cybersecurity industries. The Task Force shall be representative of the community at-large and should reflect the gender, racial, ethnic, and cultural makeup of the community. Task Force members shall be appointed as follows:
(a) Within 30 days of the effective date of this resolution, each member of the Board may nominate persons to be considered for service on the Task Force. Nominations shall be submitted to the Clerk of the Board (the “Clerk”).
(b) If within 60 days following the effective date of this resolution, the Clerk has not received at least seven nominations for the Task Force, then the Clerk shall immediately provide the Board with written notice, and the deadline for nominations and submissions shall be extended for an additional 30 days following such notice(s).
(c) Upon receipt of at least seven nominations, the Clerk shall place an item on the agenda of the Board’s next regularly scheduled meeting for the Board’s selection of Task Force members.
(d) In its selection of Task Force members, the Board may consider, among other factors, the member making the nomination, the availability of nominees, and other criteria set forth in this resolution.
(e) Any Task Force vacancies shall be filled in the manner provided for in the initial appointment.
Section 4. The Task Force shall select one member to serve as Chairperson, and one member to serve as Vice-Chairperson who shall discharge the office of Chairperson in the Chairperson’s absence. In order to transact any business, take any action, or exercise any power vested in the Task Force, a quorum consisting of a majority of those persons duly appointed shall be present. The Task Force shall adopt any rules it deems necessary for the conduct of its meetings, as long as such rules do not contravene this resolution, the Florida Statutes, or the County Code. Task Force members shall serve without compensation.
Section 5. All Task Force meetings shall be conducted in accordance with section 286.011, Florida Statutes, and the Citizens’ Bill of Rights of the Miami-Dade County Home Rule Charter. The Task Force shall be deemed an “agency” for all purposes under Chapter 119, Florida Statutes. The Task Force shall be governed by all applicable state and County conflict of interest laws and ordinances, including section 2-11.1 of the Code. The Task Force shall convene within 30 days of the appointment of its members. The Task Force shall meet not less than twice a month from the date of its initial meeting. Additional Task Force meetings may be held at the discretion of the Task Force.
Section 6. The Task Force is advisory only and shall not have the power or authority to commit Miami-Dade County or any of its agencies or instrumentalities to any policies, incur any financial obligations, or create any liability, contractual or otherwise, on behalf of the County or any of its agencies or instrumentalities.
Section 7. The Task Force shall provide a final report to the Board which contains its findings and recommendations consistent with this resolution, within 180 days following its initial meeting. The report shall be placed on an agenda of the Board pursuant to Ordinance No. 14-65, for consideration of the Board. The Board may request such further work of the Task Force as may be in the public interest.
Section 8. The Task Force shall be provided adequate staff and support services by the County Mayor or County Mayor’s designee. Such staff shall (i) maintain records of the Task Force, (ii) prepare agendas in coordination with the Chairperson, (iii) provide minutes of Task Force meetings, and (iv) perform such other duties as may be reasonably required to conduct the affairs of the Task Force subject to budgetary limitations. The County Attorney’s Office shall provide legal counsel, as needed, to the Task Force.
Section 9. The Task Force shall sunset and stand dismissed 364 days following the effective date of this resolution, unless the Board extends the term of service by majority vote.



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