Press Release

Rio Will Officially Be Accepting Bitcoin (BTC) Payments For Taxes On Real Estate

Haider Jamal
March 27, 2022

Rio de Janeiro, Brazil, will officially begin accepting Bitcoin (BTC) payments for taxes on urban real estate inside their municipal borders, also known as Imposto sobre a propriedade predial e territorial urbana (IPTU). The new pro-cryptocurrency tax regulations will go into effect in 2023, according to the Secretary of Economic Development, Innovation, and Simplification, Chico Bulhes. To that end, Binance CEO Changpeng Zhao announced the opening of a new office in the region to support this cause led by Brazilian Mayor Eduardo Paes. With the implementation of this proposal, Rio de Janeiro will become the first Brazilian city to accept BTC payments. Finally, there are also plans of implementing NFT-oriented governance regulations in a variety of areas, including tourism, culture and art.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.