<span style="font-weight: 400">The seaside city of <a href="https://www.cryptoknowmics.com/news/brazilian-senate-set-to-vote-on-bill-to-regulate-crypto/">Brazil</a>, Rio de Janeiro will reportedly accept cryptocurrency payments to pay property taxes, starting from the year 2023. </span>

https://twitter.com/WatcherGuru/status/1507482506068697088
<h2><strong>Second-Largest Brazilian City’s Future Plans</strong></h2>
<span style="font-weight: 400">The city has planned to appoint a number of crypto exchange firms to assist in the conversion of cryptocurrencies to Brazilian real. The city plans to provide exemptions to the residents by allowing them to pay their taxes with cryptocurrency. </span>

<span style="font-weight: 400">In addition, the Finance and Planning Secretary of Rio de Janeiro has proposed ideas to boost tourism in the city. The first move is to encourage local artists to step into the digital space for the creation of NFTs. The collection of NFTs will depict the famous tourist attractions of Rio de Janeiro. </span>
<h2><span style="font-weight: 400">Notice from the Rio de Janeiro’s City Hall</span></h2>
<span style="font-weight: 400">These plans and strategies shouldn’t come as a surprise to people across the globe. As the City’s Mayor Eduardo Paes already announced plans of converting a percent of the city’s treasury into cryptocurrency. </span>

<span style="font-weight: 400">Earlier this year, the Economic Affairs Committee of Brazil’s Senate collectively approve a bill that disclosed the move to regulate the cryptocurrency market of Brazil. In the meantime, the Central Bank of Brazil is reportedly working on developing the Central Bank Digital Currency (CBDC). </span>

<span style="font-weight: 400">In March, Brazil’s Central Bank appointed Visa and Santander to evaluate the feasibility of CBDC’s creation. The second half of the year might observe the Brazilian currency entering the testing phase. </span>

Rio de Janeiro Will Soon Start Accepting Crypto Paymentstled document

The seaside city of Brazil, Rio de Janeiro will reportedly accept cryptocurrency payments to pay property taxes, starting from the year 2023. 

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Rio de Janeiro Will Soon Start Accepting Crypto Paymentstled document

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