INSUBCONTINENT EXCLUSIVE:
According to the decree, digital money may also be used to fund city projects.Brazil's tourist hot spot of Rio de Janeiro now wants to
become the nation's cryptocurrency capital, and plans to dedicate part of its reserves to digital money.In a decree published Friday, Rio
mayor Eduardo Paes announced the creation of a working group to study ways to incentivize the use of crypto and boost the city economy, such
city better known for its beaches and raucous street parties into a tech hub
Miami mayor Francis Suarez, one of the most outspoken proponents of digital currencies among United States officials, also participated in
the event.Eduardo Paes, Democratic Party (DEM) candidate for mayor of the city of Rio de Janeiro, gesutres after voting at a polling station
during the first round of municipal elections in Rio de Janeiro, Brazil, on Sunday, Nov
Brazilians are about to find out whether their popular president is able to get political allies elected in Sunday's municipal vote."We
are going to launch Crypto Rio and invest 1% of our public funds in cryptocurrency," Paes said on Thursday, according to business daily
ValorEconomico.According to the decree, digital money may also be used to fund city projects
The working group is set to publish the results of its study in 90 days.
