Mayor Of Rio de Janeiro Hopes To Put 1% Of City's Treasury Funds Into Bitcoin

SHARE:

Mayor Of Rio de Janeiro Hopes To Put 1% Of City's Treasury Funds Into  Bitcoin

The mayor of Rio de Janeiro, one of the biggest cities in Brazil, has stated that he intends to invest 1% of the city's treasury funds into cryptocurrency Bitcoin as part of a long-term investment strategy that he hopes can net huge gains for the metropolis.


Eduardo Paes, mayor of Brazilian city Rio de Janeiro, announced plans for 'Crypto Rio' during Rio Innovation Week according to Brazilian newspaper O Globo. The same story was reported in Cointelegraph Brazil.


Paes reportedly said:


"We are going to launch Crypto Rio and invest 1% of the treasury in cryptocurrency. The government has a role to play."


In a statement, a the project's Working Group said:


"The City of Rio has taken the first step towards becoming a national hub in the digital currency market. A decree published on Friday (14/01) creates a Working Group to propose actions related to the development of this market with the aim of boosting the Economy of Rio in the crypto universe. The Working Group, coordinated by the Municipal Department of Finance and Planning in partnership with the Secretariat of Economic Development, Innovation and Simplification, will study ways to stimulate the use of coins through discounts to the taxpayer, such as the payment of the IPTU, for example. Crypto Rio calls, such as digital currencies in Rio, can also help expand resources for the city's strategic projects. Experts will also evaluate the possibility of the municipality making treasury investments in cryptocurrencies. The results of the studies will be published by the Working Group within 90 days of the publication of the decree."


Reports have also indicated that city finance secretary Pedro Paulo has suggested that there could also be a 10% discount on property tax if they are paid using the Bitcoin cryptocurrency.


Rio de Janeiro would become just one of the latest cities and nation states to start using Bitcoin. Most recently the newly elected New York mayor stated that they would start looking into using Bitcoin as part of the city's financial plans for the future.


[Based on reporting by: COINTELEGRAPH]


Ways to buy #Bitcoin and other #crypto like #Ethereum ( #ETH) , #Cardano ( #ADA) , #BNB and more: Join #Binance, the biggest exchange in the world, buy, earn and spend crypto with their Visa Debit Card: https://accounts.binance.com/en/register?ref=13380876


Join #CryptoCom , Use our referral link https://crypto.com/app/m524bfdwja to sign up for Crypto.com and we both get $25 USD 🙂 You can earn interest and use their Visa Debit Card.


Sign up with our referral link and earn up to 100 Euros in free #CHSB to kickstart your crypto portfolio with #SwissBorg with your first transfer of 50 Euros! You can also earn up to 20 % per year on your USD. https://join.swissborg.com/r/alkimoKOWX


Use our referral link https://blockfi.com/?ref=51dbf398 to join #BlockFi and we both get $10 in BTC. Earn 5 % interest per year on your Bitcoin.


Join #Celsius Network using our referral code 118223bf09 when signing up and earn $20 in BTC with your first transfer of $200 or more!


Earn passive income on many cryptocurrencies!


https://celsiusnetwork.app.link/118223bf09


Join #Nexo , a great app to earn passive income, and earn $10 https://nexo.io/ref/d5js2kmhbw


Join #FTX, one of the best cryptocurrency and derivatives exchange: https://ftx.com/#a=16627416


💥Every revolution needs a leader💥Use our referral link to join and start trading on #Bittrex https://bittrex.com/Account/Register...


COMMENTS

Name

Activism,1306,Art,791,BLM,22,Consciousness,1545,CoVid-19,154,Cures,227,Do it Yourself,112,Documentaries,72,Environment,1478,Fiction,2,Health,765,History,464,Human Intelligence,554,Inspirations,2,Inspiring Stories,4178,Justice,535,Mental Health,16,News,1412,Nutrition,218,Philosophy,309,Photography,1590,Quantum Physics,29,Quizzes & Tests,145,Quotes,113,Relationships,781,Science,1145,Self Improvement,838,Spirituality,248,Sustainability,246,Technology,477,Truth,754,
ltr
item
Thinking Humanity: Mayor Of Rio de Janeiro Hopes To Put 1% Of City's Treasury Funds Into Bitcoin
Mayor Of Rio de Janeiro Hopes To Put 1% Of City's Treasury Funds Into Bitcoin
The mayor of Rio de Janeiro, one of the biggest cities in Brazil, has stated that he intends to invest 1% of the city's treasury funds into cryptocurr
https://blogger.googleusercontent.com/img/a/AVvXsEiUEuFe3PXAtGNfkFF7tSbeERhO2xCgMHXww68_ZY_jPuNKjpjAW22ODiCHfisMy-vUMqHZ10la3_2SbLC6wLE8JDDBiAiDgitX6gqzCayrCYzTsXbU7yvlAGy-0m456JVJ5BgArhQweisIfo-lUOtZgQzTRZA2yQMnfuhF0GB1iwv4zKivjh-cbhyoPA
https://blogger.googleusercontent.com/img/a/AVvXsEiUEuFe3PXAtGNfkFF7tSbeERhO2xCgMHXww68_ZY_jPuNKjpjAW22ODiCHfisMy-vUMqHZ10la3_2SbLC6wLE8JDDBiAiDgitX6gqzCayrCYzTsXbU7yvlAGy-0m456JVJ5BgArhQweisIfo-lUOtZgQzTRZA2yQMnfuhF0GB1iwv4zKivjh-cbhyoPA=s72-c
Thinking Humanity
https://www.thinkinghumanity.com/2022/01/mayor-of-rio-de-janeiro-hopes-to-put-1-percent-of-citys-treasury-funds-into-bitcoin.html
https://www.thinkinghumanity.com/
https://www.thinkinghumanity.com/
https://www.thinkinghumanity.com/2022/01/mayor-of-rio-de-janeiro-hopes-to-put-1-percent-of-citys-treasury-funds-into-bitcoin.html
true
7064777598104498166
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy