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Rio De Janeiro Plans To Buy Bitcoin With City’s 1% Reserve; Tax Discounts Also To Be Offered

Rio De Janeiro Plans To Buy Bitcoin With City’s 1% Reserve; Tax Discounts Also To Be Offered
Brazil’s second most populous city, Rio de Janeiro, is all set to buy Bitcoin with 1% of the city’s treasury reserves, said Eduardo Paes, the city’s mayor. Rio will be the first-ever Brazilian city to purchase crypto as a store of value if Eduardo proceeds with what he says.


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