Rio de Janeiro mayor plans to speculate 1 per cent of the town’s treasure reserves in cryptocurrency

The mayor of Rio de Janeiro Eduardo Paes intends to speculate a slice of the of the town’s treasury reserves in cryptocurrency. In accordance with a report by Brazil’s newspaper O Globo on Thursday, Paes can be set to ascertain a working group in that regard.

The Brazlian Mayor was talking on the Rio Innovation Week occasion at a panel with Miami mayor Francis Suarez, and mentioned: “We’re going to launch Crypto Rio and make investments 1 per cent of the treasury in cryptocurrency.”

Pedro Paulo, Rio’s Secretary of Finance and Planning  instructed O Globo that the town can be wanting into providing a reduction of 10 per cent on property taxes paid with Bitcoin.

In the meantime, residents of US seashore metropolis Miami could quickly get cryptocurrency MiamiCoin of their crypto wallets totally free. Miami metropolis mayor Francis Suarez introduced on Twitter that the town will share among the beneficial properties from the town’s cryptocurrency with all its residents and can distribute funds via digital wallets.

The Miami mayor plans to make the Florida capital a brand new centre of digital finance. Suarez can be engaged on a plan to pay metropolis officers in cryptocurrency. Earlier this month, NY city’s new mayor-elect Eric Adams and Miami Mayor Suarez have introduced to take their paycheques in Bitcoin.

He instructed Bloomberg in October that his metropolis will advance a plan to pay metropolis staff in Bitcoin. He additionally mentioned he desires the state of Florida to permit Miami to carry Bitcoin on its stability sheet. Bitcoin and another cryptocurrencies are authorized within the US, and El Salvador is the primary nation to undertake it as a authorized tender.

In different information, a minimum of two American mayors— NY city’s new mayor-elect Eric Adams and Miami mayor Suarez introduced to take their paycheques in Bitcoin. The brand new mayor-elect of New York Metropolis additionally has massive objectives to provide the cryptocurrency trade and needs NYC to be the middle of the cryptocurrency trade.

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