Rio de Janeiro Will Accept BTC Payments In Property Taxes

As reported by Brazil, Rio de Janeiro will accept BTC payments for property taxes within its city limits.

The Brazilian city of Rio de Janeiro will officially begin accepting Bitcoin payments for taxes on urban real estate within city limits. As reported by Brazil, the new pro-crypto tax laws announced by Chicão Bulhões, Minister of Economic Development, Innovation and Simplification, will be implemented from 2023. Binance CEO Changpeng Zhao, who supports this lawsuit led by Brazil Mayor Eduardo Paes, announced that he will open a new office in the region. Binance CEO said the following in his statement on the subject: "Rio de Janeiro has done its part. We are working on our own, too." The rollout of this initiative will make Rio de Janeiro the first Brazilian city to popularize BTC payments. According to the announcement made by the Mayor of Brazil, Eduardo Paes; To enable the operation, the municipality will hire companies that specialize in realizing crypto assets. In this way, the Town Hall will receive 100% of the amount in currency. Brazilian secretary Pedro Paulo also acknowledged that with the adoption of cryptocurrencies, there is a need to develop a solid market for this new asset class in the city. “As in the case of IPTU, we will promote the circulation of cryptocurrencies by integrating them into tax payments, and in the future this can be extended to many services such as taxi racing.”