“Cripto Rio”: Rio de Janeiro’s mayor wants to allocate 1% of the city’s Treasury into cryptocurrency; wants to give tax discounts for payments in Bitcoin

News came during an innovation event today. You can check the news (Portuguese) here: https://oglobo.globo.com/economia/eduardo-paes-quer-aplicar-parte-do-tesouro-do-rio-em-criptomoeda-dar-desconto-para-iptu-pago-em-bitcoin-25353018

Summary:

• A decree will be released tomorrow creating a working group to discuss crypto-related policies;
• The idea is to simulate the initiatives of Suarez’s Miami, making Rio a cryptohub in the country.

If it really happens, it will be a major move for crypto in South America’s biggest country.