In 2022, there will be more countries to invest financial revenue in encrypted currency?

According to reports, Rio de Janeiro, one of Brazil, will invest some of the fiscal revenue in encrypted currency. Its plan is to turn the city into a center of the encrypted currency, in order to achieve this, the city will also introduce other tax preferential policies.

Rio de Janeiro will invest in encryption currency

According to Edwardo Paes, the Brazilian Eduardo Paes, one of the largest cities in Brazil will invest some funds into the encrypted currency investment.

In the event of the Rio Innovation Week, Eduardopaes announced this news. The event involves the modernization of the city, attending the event, as well as Mayor, Miami, Francis Suarez.

In the speech, PAES claimed: “We will launch Cryptorio and invest 1% of the assets of the national treasury in encryption currency.” Just before, Suarez also launched the encrypted currency Miamicoin in Miami, he said that Miami’s development is also investment. Create an opportunity while providing an tax discount of encrypted currency.

Tax incentive and supervision

Follow Miami’s footsteps, PAES also plans to develop tax benefits and discounts for users payable by Bitcoin. Pedro Paulo explained that they are studying 10% discount for users who pay certain taxes with Bitcoin. However, he also said that research regulations is necessary to effectively apply these changes.

The Secretary of the Economic Development and Innovation Team Chic?obulhres said that these tax concessions are mainly to attract more encrypted currency companies from other parts of the country. Bulh?es said: “We have approved tax preferential policies, we already have 2% ratio, we hope to focus on Porto area, so that these new actors can come.”

The country’s supervision of encrypted currencies is a continuous problem. This year’s Senate approved a new bill for discussion. Last year, the Brazilian Vice President Oreio Ribeli said that this bill called 2.303 / 15 will make Bitcoin into the main currency in Brazil.