Press "Enter" to skip to content

Rio de Janeiro Wants To Become Brazil’s Cryptocurrency Capital

According to the decree, digital cash can also be used to fund metropolis initiatives.

Brazil’s vacationer scorching spot of Rio de Janeiro now needs to turn out to be the nation’s cryptocurrency capital, and plans to dedicate a part of its reserves to digital cash.

In a decree printed Friday, Rio mayor Eduardo Paes introduced the creation of a working group to review methods to incentivize using crypto and increase the town financial system, equivalent to providing reductions when paying taxes with Bitcoin. 

On Thursday, Paes spoke at Rio Innovation week and outlined his plans to remodel a metropolis higher identified for its seashores and raucous avenue events right into a tech hub. Miami mayor Francis Suarez, probably the most outspoken proponents of digital currencies amongst U.S. officers, additionally participated within the occasion.

Eduardo Paes, Democratic Party (DEM) candidate for mayor of the town of Rio de Janeiro, gesutres after voting at a polling station in the course of the first spherical of municipal elections in Rio de Janeiro, Brazil, on Sunday, Nov. 15, 2020. Brazilians are about to seek out out whether or not their common president is ready to get political allies elected in Sunday’s municipal vote.

“We are going to launch Crypto Rio and invest 1% of our public funds in cryptocurrency,” Paes stated on Thursday, based on enterprise day by day ValorEconomico.

According to the decree, digital cash can also be used to fund metropolis initiatives. The working group is about to publish the outcomes of its examine in 90 days.

Be First to Comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    %d bloggers like this: