The mayor of Miami, Florida, sees China’s cryptocurrency crackdown as “the turning point” that “creates an incredible opportunity for America.” He said: “Their loss is our gain and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin.”

Miami Mayor Sees US Benefiting From China’s Crypto Crackdown

Miami Mayor Francis Suarez, who has been trying to build his city into a bitcoin hub, sees the crypto crackdown by the Chinese government as an opportunity for his city and the U.S. He told Bloomberg:

The turning point is now. This creates an amazing opportunity for America.

Suarez commented on China’s crackdown this week: “China banning bitcoin is a massive mistake with impacts that will be felt for generations. Their loss is our gain and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin.”

The mayor of Miami is not the only politician who sees China’s crackdown on crypto as an opportunity for the U.S. “China’s authoritarian crackdown on crypto, including bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China,” said Senator Pat Toomey. Congressman Patrick McHenry said, “China’s decision to restrict access presents a perfect opportunity for American leadership on cryptocurrency.”

Mayor Suarez said earlier this week that he has been actively trying to convince cryptocurrency miners that South Florida offers great opportunities for mining, including clean energy options, such as nuclear, solar, and hydroelectric. He confirmed that he had spoken with Eric Silagy (CEO of Florida Power & Light) about attracting cryptocurrency businesses to the region. He tweeted in May that the City of Miami “can mine bitcoin with clean nuclear energy provided by Florida Power & Light,” emphasizing:

We want to be the crypto mining capital of the world and know it can be done sustainably and incorporate solar.

Do you think that China’s crypto crackdown is an opportunity for the U.S. to lead in the area of crypto and crypto mining? Comment below.

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