Rio de Janeiro to accept Bitcoin for real estate taxes from 2023

03/27 05:08

According to Cointelegraph, the Brazilian city of Rio de Janeiro will officially start accepting Bitcoin (BTC) payments for taxes related to urban real estate within their city limits, a.k.a. Imposto sobre a propriedade predial e territorial urbana (IPTU). The new pro-crypto tax laws will be implemented from 2023, which was announced by the Secretary of Economic Development, Innovation and Simplification, Chicão Bulhões. The rollout of this initiative will place Rio de Janeiro as the first Brazilian city to mainstream BTC payments. The city also plans to involve nonfungible tokens (NFT)-based governance policies across various markets including arts, culture and tourism.
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