The Administration of Rio de Janeiro Intends to Start Accepting BTC as Property Taxes Payment

The administration of Rio de Janeiro intends to amend the legislation, allowing you to pay property tax in Bitcoins (BTC).

The amendments are planned to be introduced before the end of 2023, according to the head of the department of economic development and innovation, Chicago Bullhoins.

According to the city administration’s press release, in order to ensure the successful conversion of cryptocurrency into Brazilian real, an agreement will be concluded with a specialized company so as not to keep digital assets on the balance of the administration.

According to administration spokesman Pedro Paulo, in the future they may expand the scope of cryptocurrencies in the city, for example, to pay for taxi services.

So far, the city authorities have not disclosed which company will become an intermediary. But recently the head of Binance, Changpeng Zhao, announced that he had met with the mayor of Rio de Janeiro, Eduardo Paez. And on March 26, at the Criptoatividade Carioca event, he announced the opening of the exchange office in Rio de Janeiro.

According to Portal do Bitcoin, the same event was also attended by executives from the Mercado Bitcoin exchange and the InspireIP platform.

The city administration also announced the creation of the Municipal Crypto Investment Committee, whose responsibilities will include assessing the risks and returns of potential investments in the digital asset ecosystem.

The City Hall also plans to hold public hearings regarding the development of the NFT sector. For example, there is a proposal to issue non-fungible tokens with images of city landmarks.

On February 22, the Brazilian Senate Economic Affairs Committee unanimously approved the crypto regulation bill.

The BTC-Alpha team together with trusted volunteer communities created a charity fund ‘Alpha for Ukraine’. You can make a donation to help everyone in Ukraine who needs medicines, humanitarian aid and to support the defence of the country.

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