Rio de Janeiro will accept Bitcoin for property tax settlement in 2023

From the beginning of 2023, residents of Rio de Janeiro will be able to pay taxes using the cryptocurrency Bitcoin (BTC). In particular, it is about the territorial land tax (IPTU). The introduction of this feature was announced at the local event Carioca Cryptoactivity. This event is dedicated to the topic of digital assets. Rio de Janeiro thus became the first Brazilian city to use Bitcoin at the state level. That is why from the beginning of next year the local authorities will start preparing a technical solution for transactions using cryptocurrency and their automatic conversion into local currency. Mayor Eduardo Paes commented on the prospect of using Bitcoin: “We are trying to make it clear that in Rio we have official initiatives that recognize this market. From now on, those who invest in cryptocurrency and live [here] will be able to spend this asset […] by paying the official tax of the city of Rio. And we will move fast. » <a href="https://bit4you.medium.com/rio-de-janeiro-will-accept-bitcoin-btc-for-property-tax-settlement-in-2023-f7415df4fd81">Visit Now</a>