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Rio de Janeiro mayor plans to speculate 1 per cent of town’s treasure reserves in cryptocurrency

The mayor of Rio de Janeiro Eduardo Paes intends to speculate a slice of the of town’s treasury reserves in cryptocurrency. Based on a report by Brazil’s newspaper O Globo on Thursday, Paes can also be set to determine a working group in that regard.
The Brazlian Mayor was talking on the Rio Innovation Week occasion at a panel with Miami mayor Francis Suarez, and mentioned: “We’re going to launch Crypto Rio and make investments 1 per cent of the treasury in cryptocurrency.”
Pedro Paulo, Rio’s Secretary of Finance and Planning  instructed O Globo that town can also be trying into providing a reduction of 10 per cent on property taxes paid with Bitcoin.

In the meantime, residents of US seashore metropolis Miami might quickly get cryptocurrency MiamiCoin of their crypto wallets totally free. Miami metropolis mayor Francis Suarez introduced on Twitter that town will share a few of the beneficial properties from town’s cryptocurrency with all its residents and can distribute funds by means of digital wallets.
The Miami mayor plans to make the Florida capital a brand new centre of digital finance. Suarez can also be engaged on a plan to pay metropolis officers in cryptocurrency. Earlier this month, NY city’s new mayor-elect Eric Adams and Miami Mayor Suarez have introduced to take their paycheques in Bitcoin.

He instructed Bloomberg in October that his metropolis will advance a plan to pay metropolis staff in Bitcoin. He additionally mentioned he desires the state of Florida to permit Miami to carry Bitcoin on its steadiness sheet. Bitcoin and another cryptocurrencies are authorized within the US, and El Salvador is the primary nation to undertake it as a authorized tender.
In different information, not less than two American mayors— NY city’s new mayor-elect Eric Adams and Miami mayor Suarez introduced to take their paycheques in Bitcoin. The brand new mayor-elect of New York Metropolis additionally has large targets to offer the cryptocurrency business and needs NYC to be the middle of the cryptocurrency business.

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