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Rio De Janeiro Bets on Bitcoin and Seeks to Emulate the Policies of Francis Suarez in Miami

Proyecto financiado por Bitcoin llevará agua limpia a 1,000 aldeanos nigerianos

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Andrea Senko, secretary of finance and planning of Rio de Janeiro, talked to the local portal Boletim Bitcoin and gave many headlines about the mentioned cryptocurrency. Specifically, she slipped its adoption in the city and commented on the possibility of the local government taking refuge in it.

“Rio, due to its vocation as a global city, is attentive to the main changes and innovations in the world and is always at the forefront of these themes. The city has a look to the future, and the City Hall has been following 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,” commented the official in the interview above.

To achieve this technological integration, the city created the Municipal Committee for Crypto Investments (CMCI). The same came into the world in March 2020 and works on “an investment policy in crypto assets and a governance model for decision-making.”

Regarding the idea of 1% of the mayor’s treasury in bitcoins, Senko indicated that “this purchase will follow a methodology that is attentive to the swings and risks of this market and is under development by City Hall.”

It should be noted that other countries such as El Salvador or the Central African Republic have already adopted this cryptocurrency. Senko celebrated their action and remarked that it is “positive that the country is open to the crypto asset market.” At the same time, she assured that “to date, we have not been approached by other public entities to study this possibility together with Rio de Janeiro.”

Bitcoin and Rio de Janeiro

The official was not the only one from Rio de Janeiro to talk about Bitcoin these last weeks. It turns out that Mayor Eduardo Paes participated in the Rio Innovation Week, where he discussed the topic with his Miami counterpart, Francis Suarez. During their meeting, the Brazilian stated that “the magic city” is one of the inspirations for Rio and that the city was studying to “invest 1% of the treasury in cryptocurrency.”

During the event, Pedro Paulo, secretary of finance, joined the meeting and said that “we are studying the possibility of paying taxes with an additional discount if you pay with bitcoins,” he added.

In addition to Rio de Janeiro, Brazil joined the world of cryptocurrencies in May when it announced a resolution that lowered the tax on importing Bitcoin mining equipment to zero as long as they use renewable energy.

Joaquín Núñez es licenciado en comunicación periodística por la Universidad Católica Argentina. Se especializa en el escenario internacional y en la política nacional norteamericana. Confeso hincha de Racing Club de Avellaneda. Contacto: [email protected] // Joaquín Núñez has a degree in journalistic communication from the Universidad Católica Argentina. He specializes in the international scene and national American politics. Confessed fan of Racing Club of Avellaneda. Contact: [email protected]

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