Rio Mayor Says City Will Invest in Bitcoin

During Rio Innovation Week, Eduardo Paes said that 1% of Rio's Treasury would invest in crypto assets, making the city a pioneer

Eduardo Paes at Rio Innovation Week - Photo: Beth Santos/Rio City Hall

Mayor Eduardo Paes (PSD) looks like he will make Rio de Janeiro a venue for cryptocurrencies. The announcement was made during his presentation with Miami Mayor Francis Suarez at Rio Innovation Week this Thursday afternoon, 1/13.

The decree on this topic should already be released this Friday, 1/14, launching both Cripto Rio, when investing 1% of the Municipal Treasury in cryptocurrencies, without going into the merits of which it will be.

According to the Secretary of Finance, Pedro Paulo, IPTU, the residential tax in Rio, would have a discount of 10% if paid in BitCoin. And that the City Hall of Rio will create a working group that will develop Rio as a cryptocurrency hub.


Secretary Chicão Bulhões says that Rio will be a pioneer in Treasury investment in crypto assets.


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