As of 2023, the metropolis of Rio de Janeiro will accept cryptocurrencies for the payment of the Tax on Urban and Territorial Property (IPTU), as announced by the Secretary of Economic Development, Innovation and Simplification of Rio de Janeiro, Chicão Bulhões, and the Secretary of Finance and Planning, Pedro Paulo Carvalho Teixeira.
The announcement was made within the framework of the Carioca cryptoactivity event where it was also indicated that the municipality will hire companies specialized in converting crypto assets into reais, preventing “legal or technological problems” from being incurred because the City Council will receive 100% of the tax in national currency.
By receiving income in digital assets, the municipality will also be able to invest in cryptocurrencies, maximizing the profitability and collection of the city. For his part, Pedro Paulo Carvalho Teixeira, Secretary of Finance and Planning, considers the announcement of great importance due to the resources and the vocation that Rio has as a power municipality in the country.
“In this process, the City Council has been accompanying the technological and economic advances in the universe of digital financial assets, which have grown significantly and foster economic segments with enormous traction to boost the economy of the municipality,” he stressed. With the creation of an environment for business framed in the possibilities of a digital society, the potential of the city to attract new commercial activities and lead profound transformations in Brazil is facilitated and reinforced.
A crypto ecosystem in Rio de Janeiro
The secretary of Economic Development, Innovation and Simplification of Rio de Janeiro, Chicão Bulhões, explained that one of the objectives of the municipality is “To make Rio the cryptoecosystem of Brazil, contributing to the city becoming the capital of innovation and technology of the country”.
With a strong cryptosystem, the city’s growth possibilities are enhanced, in addition to those of the research centers and universities that are being installed. The mayor of the city, Eduardo Paes, also expressed his enthusiasm for the development of the cryptographic system, highlighting that his commitment “is to do whatever is necessary to develop and strengthen the cryptographic ecosystem in Rio.”
Boosting the economy
Experts in the cryptographic market and regulatory entities, as well as representatives of companies dedicated to the sector such as Mercado Bitcoin, Reinaldo Rabelo, who expressed their enthusiasm with the possibility of supporting the different ideas and projects for for the city of Rio de Janeiro to become a “crypto-friendly city”. In addition, he highlighted: “We are the largest exchange house in Latin America and a crypto-native company” that contributes to the dynamism of the city’s economy.”
For his part, the mayor also considers that the technological and financial development, both national and international, produced by “blockchain technology, means of payment and asset creation, stablecoins” and the activities and innovations constitute segments that can boost the economy of the country. country. “Especially in the traditional environment of innovation and existing market, the issue becomes of great relevance for our city”.
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