The mayor of Rio de Janeiro Eduardo Paes intends to speculate a slice of the of the town’s treasury reserves in cryptocurrency. In line with a report by Brazil’s newspaper O Globo on Thursday, Paes can be set to determine 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 informed O Globo that the town can be trying into providing a reduction of 10 per cent on property taxes paid with Bitcoin.
In the meantime, residents of US seaside metropolis Miami might quickly get cryptocurrency MiamiCoin of their crypto wallets without spending a dime. Miami metropolis mayor Francis Suarez announced on Twitter that the town will share a few of the positive aspects 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 informed Bloomberg in October that his metropolis will advance a plan to pay metropolis employees 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, not less than two American mayors— NY city’s new mayor-elect Eric Adams and Miami mayor Suarez announced to take their paycheques in Bitcoin. The brand new mayor-elect of New York Metropolis additionally has massive objectives to present the cryptocurrency business and desires NYC to be the middle of the cryptocurrency business.