Rio de Janeiro’s secretary of finance and development, Andrea Senko, commented on the city’s adoption of bitcoin and mentioned the anticipated purchase of bitcoin for the local government’s funds in an exclusive interview with the Brazilian website Boletim Bitcoin.
The city of Rio de Janeiro has been coming closer to bitcoin for a while now. Representatives from the city, like Mayor Eduardo Paes, have provided comments on their plans a number of times.
Eduardo Paes met with Miami Mayor Francis Suarez during Rio Innovation Week to discuss integrating bitcoin in Miami. Miami, according to Paes, was a major influence on Rio de Janeiro, and he later revealed that the city was looking into “putting 1% of the treasury to bitcoin.”
The local government is willing to accept bitcoin tax payments, according to Pedro Paulo, the secretary of finance, who also made this statement at the ceremony. ” We are looking into the potential of offering an additional discount for bitcoin payments while paying taxes,” Paulo remarked. As a result, more people would start using bitcoin as payment.
Senko stated:
“Rio, because of its vocation as a global city, is aware of the world’s main changes and innovations, and always places itself at the forefront of these issues. The city looks to the future, and the City Hall has been following the technological and economic advances […]. The goal is to make Rio the crypto ecosystem of Brazil, contributing to the city becoming the innovation and technology capital of the country.”
Rio de Janeiro’s unique municipal initiative notwithstanding, Brazil is adopting favorable regulatory measures for bitcoin usage. The Brazilian government published a resolution in May of this year that abolishes import taxes on the hardware used for bitcoin mining, provided that the operation is carried out using sustainable energy.