Rio predicts its own cryptocurrency and wants to be a hub in the digital currency market

Rio de Janeiro is studying the possibility of investing the municipal treasury in cryptocurrencies.

The information was confirmed by the City of Rio de Janeiro, which set up a working group to analyze the issue, which is part of the strategy to establish itself as a national hub in the digital currency market.

The group was created this Friday (14), by a decree of Mayor Eduardo Paes (PSD), published in the Official Gazette of the Municipality, and will be subordinated to the Municipal Department of Finance and Planning, directed by licensed federal deputy Pedro Paulo (DEM). -RJ).

The collegiate will have a period of 90 days to present a report with the conclusions.

The publication came out the day after Paes participated in discussions at the Rio Innovation Week, at the Jockey Club Brasileiro, in Gávea, in the southern part of the city.

At the meeting, the intention was announced to invest 1% of the municipal treasury in crypto assets and to offer discounts on the payment of IPTU in cash through this modality.

In the decree, Paes highlighted the technological advances of recent years and that the segment can boost the innovation environment and the Carioca financial market.

The publication leaves open the possibility of the municipality creating its own cryptocurrency, “Rio Crypto”, and offers indications of public policies that can use the instrument.

“Considering the possibility of the municipality of Rio de Janeiro to encourage and adopt some of these solutions and tools to expand the financial resources available from the City Hall for strategic public spending, as well as to ensure that aids, subsidies, subsidies and other financial instruments of promotion encourage the economy place, preventing them from being drained for expenses outside the city”, highlights an excerpt from the decree.

The city’s intention is to concentrate the sector in the redesigned port region of Rio de Janeiro, close to Praça Mauá, downtown, in the so-called “Porto Maravalley”, inspired by Silicon Valley, California (USA).

The working group will be formed by representatives of six other municipal departments: Economic Development, Innovation and Simplification; Government and Public Integrity; Science and technology; Attorney General of the Municipality, Development Agency of the Municipality of Rio de Janeiro (Invest Rio) and Municipal Information Technology Company (Iplan Rio).

In addition to these bodies, which will appoint their representatives in the debate, the working group will have the presence of representatives from the mayor’s office, in a number not established by the decree.

The decree also provides for the group’s autonomy to obtain contributions from members of civil society, specialists, class entities and educational institutions in the debate.

Reference: CNN Brasil

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