The authorities of Rio de Janeiro will allow to pay property taxes with bitcoin

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In 2023, the administration of Rio de Janeiro will introduce amendments to the legislation that will allow paying property taxes using bitcoin. This was announced by the head of the department of economic development and innovation of the city of Chicago Bullhoins.

According to a press release from the administration, a “specialized company” will be hired to convert the cryptocurrency into Brazilian real. Thus, the city hall will not keep digital assets on its balance sheet.

It is not known which company will become an intermediary. However, earlier the head of Binance, Changpeng Zhao, said that he had met with the mayor of Rio de Janeiro, Eduardo Paez. On March 26, he also announced the opening of a bitcoin exchange office in the city.

The Criptoatividade Carioca event, where the announcement was originally made, was also attended by executives from the Mercado Bitcoin exchange and the InspireIP platform, according to Portal do Bitcoin.

The city administration also announced the creation of the Municipal Committee for Crypto Investments. The latter will assess the risks and returns of potential investments in the digital asset ecosystem.

In addition, officials plan to hold public hearings regarding the development of the NFT sector. For example, the mayor’s office proposed issuing non-fungible tokens with images of city landmarks.

Recall that in January 2022, Eduardo Paez announced that the administration of Rio de Janeiro intends to convert 1% of the city’s cash into digital assets.

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