After Miami, it is the turn of the city of Rio de Janeiro to seek to hold reserves in bitcoins (BTC) and allow its inhabitants to pay taxes using this cryptocurrency. Mayor Eduardo Paes officially made the announcement. He said his city plans to look to the future.
The mayor of Rio de Janeiro reveals his ambitions
According to Mayor Eduardo Paes, Rio de Janeiro has every chance of becoming the first city in Brazil to buy bitcoins (BTC) as a store of value. The city administration also announced that it plans to offer discounts to people who want to pay their taxes using BTC.
The short-term objective of the 13and mayor of the city of Rio is to buy BTC for the city’s reserves. The latter also revealed that she wants to create a working group whose responsibility will be to deal with all questions relating to the integration of BT into the city’s funds.
Concretely, in the long term, the final objective is that “1% of the Treasury of Rio de Janeiro is in bitcoin (BTC)”, said the mayor. “Rio de Janeiro has everything it takes to become the technology capital of South America. Events like Rio Innovation Week reinforce the city’s image as the ideal place to work, live and innovate”.
Paes dreams of making Rio the technological capital of South America just after Miami, which continues its race towards integrating BTC into the daily lives of its inhabitants.
10% reduction on taxes
Considering the support that the city of Rio de Janeiro will receive alongside Miami, Eduardo Paes said: “Miami and Rio are global cities, attracting people, businesses and organizations. This international dialogue is essential”.
Even though Rio’s goal is well known on paper, achieving it could prove difficult due to the many difficulties the authorities might face. Added to this are a lot of questions that are currently unanswered. For example, it is still unknown what the value of the BTC reserves will be in dollars and how many tokens the city is ready to buy on the market.
In any case, certain information is known and certain. Among other things, we know that the city is impatient to provide a 10% discount on taxes to which people who wish to make payments in BTC are subject. The goal ? Succeed in attracting as many people as possible to the field of cryptocurrencies by encouraging them to use bitcoin (BTC).
Bitcoin (BTC) will soon become a very present cryptocurrency in the daily life of the inhabitants of Rio de Janeiro. Indeed, the city plans to buy a large quantity of it and make it a store of value. In addition, it will offer discounts to people who pay their taxes in BTC.
Source: The Crypto Basic
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.