Brazil’s capital city, Curitiba, is now considering the possibility of accepting bitcoin tax payments. As part of the initiative, Noemia Rocha, an elected official for Curitiba, submitted a proposal to examine how the municipality might accept cryptocurrency for these payments through the use of third-party payment processors.
As local governments implement revenue collection and development strategies, cryptocurrency is becoming more prevalent. Currently, Curitiba, the capital of Parana state, is considering accepting bitcoin payments for local taxes. An architect of the project, Noemia Rocha, urged the city to consider the use of third-party payment services to achieve this goal.
What Will This Mean for the Country?
It encourages Curitiba, a technological center in the nation, to investigate the potential and benefits of cryptocurrency in Brazil. According to Rocha, cryptocurrencies have gained tremendous appeal in global markets as a result of the countless transactions made possible by the virtual world. Moreover, they offer an alternative to the “nationalization of money.”
Brazilian City of Curitiba Mulls Crypto Acceptance for Tax Payments – https://t.co/VK41qf17qq city of Curitiba, in Brazil, is now studying the possibility of accepting cryptocurrency payments for taxes. Noemia Rocha, a city councilor for Curitiba, presented this project to the… pic.twitter.com/rvAapUMs5b
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Additionally, Rocha explained that this plan is based on the developments made in this area by Rio de Janeiro, which has already expressed interest in accepting these types of municipal tax payments beginning in 2023. This is a good opportunity to put this new kind of money into the tax payment system.
Prior to a symbolic vote next week, the mayor of Curitiba must evaluate the measure for its implementation. Due to the fact that the proposal is submitted as a proposal, the government is under no obligation to accept it.
Bitcoin is now accepted as a payment method for municipal taxes in other places. A city like Buenos Aires plans to make formalities simpler for its residents by incorporating these payments and a new identification system based on blockchain as part of its digitization efforts.
In exchange for national currency deliveries from this payment provider, the Argentine province of Mendoza has begun accepting cryptocurrency payments for taxes since August. The currently acceptable currencies are stablecoins such as DAI, USDC, and USDC.