The city of Rio de Janeiro will soon welcome bitcoin real-estate taxes with arms wide open.
“To enable the operation, the municipality will hire companies specialized in converting crypto assets into reais. In this way, the City Hall will receive 100% of the amount in the currency.”
Brazilian secretary Pedro Paulo further acknowledged that the city’s goal — with the acceptance of cryptocurrencies — is to develop a solid market of this new asset class in the city, adding: “We will stimulate the circulation of cryptocurrencies by integrating them into the payment of taxes, as in the case of IPTU and, in the future, this can be expanded to services such as taxi races, for example.”
The city also plans to involve nonfungible tokens -based governance policies across various markets including arts, culture and tourism.Earlier this year on Jan. 29, Meta, the world’s biggest social media platform, filed a trademark registration with the Brazilian authorities to design, develop and provision hardware and software for various BTC and crypto-related services.As Cointelegraph reported, Meta’s trademark filing order was placed on Oct. 5, 2021, from Jamaica.
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