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The mayor of Rio de Janeiro is following in the footsteps of Francis Suarez, in Miami, to turn the city into a Bitcoin hub. Among the proposals, he seeks to offer incentives to pay taxes with cryptocurrency.
Famous for its festivals, beautiful beaches and huge statue of Christ the Redeemer, the city of Rio de Janeiro, Brazil, could be the next center of the world. Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. of Latin America.
The mayor of Rio de Janeiro, Eduardo Paes, announced this week several initiatives, including the creation of a native digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. and the investment in Bitcoin with the intention of transforming the Brazilian metropolis into a center of technological innovation. Paes shared the proposals during the conference of the Innovation Week en Río.
Among the initiatives, the mayor said he plans to allocate a percentage of the reserves of the Municipal Treasury to cryptocurrencies. On the other hand, without going into details about the project, he said that Rio de Janeiro will have its own cryptocurrency. token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. digital.
“ Let’s launch Crypto Rio and invest 1% of the Treasury in cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. “ Paes said, as quoted by local news media O Globo He added:.
Rio de Janeiro has everything it takes to become the technological capital capital is most commonly defined as the large sum of money you would use to invest. of South America. Events such as the Rio Innovation Week come to strengthen the image of the city as the perfect place to work, live and innovate.
Paes follows in Miami mayor’s footsteps
The conference was attended by the mayor of Miami, Francis Suarez, who has promoted similar initiatives for the adoption of Bitcoin and cryptocurrencies in that city. Paes, who shared with Suarez virtually at the event, praised the efforts of his counterpart in the United States to transforming Miami into a hub of technological innovation .
Miami and Rio are global cities that attract people, companies and organizations. This international dialogue is essential.
Paes’ statements suggest that the politician will echo some of the projects that have been carried out in Miami. The U.S. city last year became the world’s first in the country to have its own digital currency . Called MiamiCoin the token developed by theCityCoin promises to fund citizen projects while rewarding its users with Bitcoin .
While the Brazilian mayor did not provide details about the projects, he assured that a group is already working to issue a decree that is expected to come out in the coming days. If carried out, Rio de Janeiro would become the first city in South America to hold cryptocurrency in its reserves, as well as the first Brazilian city to have its own cryptocurrency. token digital.
In line with the plans to transform Rio into a crypto hub, Paes highlighted that another of the proposals that are looking into the possibility that property taxes (IPTU) can be paid with Bitcoin in exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. for a 10% discount. The mayor of Miami has also offered tax incentives to attract companies in the technology area, as well as the possibility for citizens to be able to pay taxes with Bitcoin .
“ We create a tsunami of opportunities. Many cities in the United States were raising taxes and we lowered them. We understood that we could be at the forefront of innovation and we invited the creators here “Suarez said during the conference.
Rio de Janeiro at the forefront of technology
Rio de Janeiro government officials provided more details about some of these proposals to the media.
The secretaries, Pedro Paulo, of Finance, and Chicão Bulhões, of Economic Development, Innovation and Simplification, detailed to O Globo that they are studying a legal framework so that people can take a discount for the IPTU in case of paying with Bitcoin . Currently, there is already a 7% discount if the payment is made in a single installment.
For its part, the mediaCryptoBriefing quoted the words of Bulhões, who said that the next step is to create a formal study group for the Ministry of Finance and Economic Development to coordinate the proposals. “ Rio de Janeiro will create a formal study group together with the Ministry of Finance. We will study the possibility of using Rio’s treasury to invest investing is when you put money in a financial scheme with the intent of making a gain. in cryptocurrencies. “, destacó.
The secretary also described the digital currencies space as “ revolutionary “and stressed that “ Rio de Janeiro wants to be at the forefront “. He also added that the The adoption of such assets could positively impact Rio’s citizens; especially communities with a “low income” and “high income”. high demand for banking services “:
For example, the favelas that have many difficulties in accessing banking services and we know that bitcoins and other cryptocurrencies can meet a need in these regions, where the public power has a very big public safety challenge, but that today can be met with this technology . . So it is one of our big themes there in Rio.
- Brazil: Lawmakers to discuss cryptocurrency bill that could eliminate mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. taxes
- Brazil’s Central Bank plans to launch CBDC pilot in 2022 and studies regulating cryptocurrencies
- Miami Mayor Francis Suarez will be the first U.S. politician to receive his full salary in Bitcoin
Article versioned by Hannah Estefania Perez / DiarioBitcoin
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