Rio de Janeiro Eyes Treasury Investment in Crypto

Rio de Janeiro mayor Eduardo Paes is a big fan of crypto. In his recent address at Rio Innovation Week, Paes has promised to invest 1% of city treasury in crypto investment. He said that his team is also planning to give discount to people who pay tax in BTC.

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Crypto has already gained huge popularity in Latin American countries after El Salvador adoption of BTC as a legal tender.

Successful adoption of plan wil make Rio the first city of Brazil which has BTC payments in balance sheet. Who knows, success of this model may make BTC as a legal tender in Brazil.

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