In a statement released last Friday (14), the city of Rio de Janeiro announced that it will start studying the creation of Crypto Rio, the city’s digital currency.
On Thursday, Mayor Eduardo Paes (PSD) had announced at the opening of Rio Innovation Week that he would “invest 1% of the treasury in cryptocurrency”.
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A day later, the city government published a decree forming a Working Group, led by the Municipal Department of Finance, which will study ways to encourage the use of virtual currency by offering, for example, a discount on the taxpayer’s IPTU.
“The experts will also assess the possibility of the municipality making Treasury investments in cryptocurrencies. The results of the studies will be released by the Working Group within 90 days of the publication of the decree,” the statement said.
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