BlocksInform
Another major metropolis leaps head first in the crypto world by investing in the digital space and proposing discounts for citizens paying taxes in bitcoin (btc).
Rio de janeiro, South America's city of nearly 7 million people, now plans to invest 1% of its treasury funds in crypto.
according to brazilian newspaper o globo, rio de janeiro mayor eduardo paes announced the new investment strategy at rio innovation week on thursday.
pedro paulo, rio’s secretary of finance, says the city may offer discounts to residents who pay their property taxes in bitcoin
"We are investigating the possibility of paying taxes with an extra discount if you pay with Bitcoins.
You take a single quota reduction of 7%, it would be 10% if you pay in bitcoin.
Let's look at the legal framework in order to do that."
Paes spoke at the Rio Innovation event with Miami Mayor francis suarez, another BTC supporter.
Suarez has publicly tried to position Miami as a crypto center. the south florida city’s government voted in september to accept millions of dollars generated by miamicoin (mia), the city’s very own digital asset
Initially announced in , crypto development company CityCoins Inc. launched the decentralised altcoin in August. Had generated revenues in excess of $21 million in November.
suarez also announced in november that the south florida city planned to develop digital wallets for users to receive bitcoin payments derived from the miamicoin project. Users will have the opportunity to wager their MIA and receive passive Bitcoin dividend returns from the token, according to the mayor.
