The 95% drop in the price of Miami’s mayor-backed crypto MiamiCoin has dampened the hopes of Miami's city leaders and raised red flags for regulators looking into cryptocurrency transactions.
Miami's cryptocurrency, MiamiCoin, was cashed out for the first time on Feb. 2, depositing $5.25 million into city coffers. Mayor Francis Suarez of Miami called it a "historic moment" and predicted that cryptocurrencies would eventually replace municipal taxes as the government's primary source of ...
