Rio de Janeiro has decided to transform itself into another global city. Following in the footsteps of Miami, Mayor Eduardo Paes revealed that he will invest 1% of the treasury reserves in Bitcoin. Crypto Rio will also be launched soon along with the ability to pay taxes in cryptocurrency.
Rio de Janeiro has decided to hold 1% of its reserves in Bitcoin
A news that once again gives an upward push to Bitcoin, the increasingly disputed cryptocurrency among cities aiming at a globalization that is not only territorial and cultural, but also economic. Indeed, Rio de Janeiro it is a city that attracts more and more people and more and more international companies. This is why, according to the mayor of the city, it is also necessary to access the world of crypto.
So came the almost unexpected announcement: Rio de Janeiro has decided to hold 1% of its own reserves in Bitcoin. Here is what the mayor Paes said about it:
We will launch Crypto Rio and invest 1% of the Treasury in cryptocurrency.
Therefore, this new decision by the Brazilian city administration seems imminent. Not only carnival then, but also cryptocurrencies. In fact, in addition to this there is the intention to begin to accept the taxes in Bitcoin. In practice, citizens who wish to do so will be able to pay taxes using their own BTC.
This decision also stems from a strong bond between Rio de Janeiro and You love me. These two cities are linked together by the same globalizing spirit. Therefore, the adoption of cryptocurrencies it becomes almost fundamental for these two cities. According to Miami Mayor Francis Suarez, Paes has made an excellent decision. Here is what he said:
We have created a tsunami of opportunity. Many cities in the United States were raising taxes and we lowered them. We realized we could be at the forefront of innovation and invited the creators here.
Meanwhile, El Salvador also continues its policy pro crypto continuing with the Bitcoin City project.