• About Us
  • Privacy Policy
  • Contact Us
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptounfold
No Result
View All Result
Home Bitcoin

Rio de Janeiro mayor to allocate 1% of the city treasury to Bitcoin

by admin
January 14, 2022
in Bitcoin
0
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter


Rio de Janeiro is about to become a crypto hub and the first Brazilian city to buy Bitcoin as a store of value, according to its mayor Eduardo Paes, who made the announcement at the Rio Innovation Week, O Globo reported. 

Paes participated on the first day of the largest innovation and technology meeting in Latin America along with Miami Mayor Francis Suarez–declared Bitcoiner, who made his municipality one of the first cities in the world that launched its own cryptocurrency–the MiamiCoin.

Crypto Rio

“We will launch Crypto Rio and invest 1% of the Treasury in Bitcoin,” said Paes, as it still remains to be seen how many coins the city will be able to purchase in the market when it acts.

A decree establishing a working group to deal with the issues of buying Bitcoin for Rio de Janeiro’s reserve is underway, assured Paes, who is eager to position his city ahead of major metropolises when it comes to harnessing innovation.

“Today’s world revolves much more around a network of cities, the so-called global cities. Miami and Rio are global cities, attracting people, functions, and organizations. This international dialogue is very important,” said Paes, as he revealed his ambition for Rio to become the tech capital of South America. 

10% discount on taxes when paid in Bitcoin

Rio’s mayor also revealed an interesting incentive for those who adopt Bitcoin for payments.

According to Paes, the city administration is looking forward to providing a 10% discount on taxes when paid in Bitcoin.

However, several details of his plan still remain to be revealed, such as who will take custody of Bitcoin purchased by the city, as well as the coins received by tax payments.

In addition, it’s still undisclosed if Rio will seek help for processing Bitcoin payments from a specific service provider.

Finally, Paes also didn’t mention whether he intends to follow Suarez’s footsteps to create Rio’s own cryptocurrency in the future.

CryptoSlate Newsletter

Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Related Posts

Crypto Market Sees $510M Futures Flush As Bitcoin Breaks $24.5k

“Bitcoin Family” Loses $1 Million In Bear Market, What’s Next For Them?

Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

$10T BlackRock Launched Bitcoin Private Trust For Clients



Source link

Tags: AllocateBitcoinCityJaneiromayorRiotreasury

Popular

Market

Cryptographers Are Always Going to Be ‘One Step Ahead’ of Regulators: Monero’s Spagni

by admin
October 19, 2020
0

While regulators are trying to restrict privacy in crypto, their efforts may be futile, according to privacy-centric protocol Monero’s...

Read more

FinCEN Fines Bitcoin-Mixing CEO $60M in Landmark Crackdown on Helix, Coin Ninja

October 19, 2020

Analyst Claims Bitcoin Unlikely to Gain a Trend Until 2 Key Events Occur

October 19, 2020

Closing Time for Bitcoin’s Iconic Room 77 – ‘And That’s OK,’ Says Owner

October 19, 2020

Bitcoin News Roundup for Oct. 19, 2020

October 19, 2020

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • Crypto Derivative Trading Volume Rose for First Time in 4 Months as Market Rallied in July
  • Binance Recovers $450K Stolen From Curve.Finance
  • Huobi Founder in Talks to Sell Majority Stake at $3B Valuation: Report
  • Genesis Digital Locks In 708 MW of Energy for Bitcoin Mining
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptounfold.org

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptounfold.org

  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$49,095.002.28%
  • ethereumEthereum(ETH)$3,384.05-0.62%
  • HEXHEX(HEX)$0.1290085.45%
  • cardanoCardano(ADA)$2.18-2.77%
  • tetherTether(USDT)$1.00-0.27%
  • binancecoinBinance Coin(BNB)$425.46-0.83%
  • SolanaSolana(SOL)$166.52-1.81%
  • rippleXRP(XRP)$1.04-1.73%
  • usd-coinUSD Coin(USDC)$1.000.74%