The 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 executive to study the method by which the municipality could accept cryptocurrencies for these payments using third-party payment processors.
Curitiba Might Accept Crypto for Paying Taxes
More and more municipalities are including crypto as part of their development and tax-collecting plans. This time is Curitiba, the capital of the state of Parana in Brazil, which is considering accepting payments in cryptocurrency for municipal taxes. The architect of this project is city councilor Noemia Rocha, who suggested the city should consider how this might be achieved with the help of third-party payment companies.
The proposal recognizes the acceptance of crypto in Brazil and pushes Curitiba, which is considered a tech hub in the country, to explore this possibility for its traits. About this view of the functionality of the proposal, Rocha stated:
Cryptocurrencies have become financial assets of immense popularity in the world economy and are already alternative forms to the ‘nationalization of currency’, as can be seen in the numerous operations carried out through the virtual environment.
Inspired by Rio De Janeiro
Councilor Rocha also clarified that this proposal gets its inspiration from the advancements that Rio de Janeiro has made in this field, having already announced it will accept these kinds of payments for municipal taxes in 2023. She believes that this could be e good opportunity to update the payments system for these taxes to include this new kind of currency.
The bill, which will be voted on in a symbolic way this next week, will have to be reviewed by the mayor of Curitiba to review about its implementation. However, the executive has no obligation of approving the bill, as it is presented as a suggestion.
Other cities are also in the process of implementing the acceptance of cryptocurrency to pay municipal taxes. One of these is Buenos Aires, that as part of its digitalization push aims to include these payments and a new blockchain-based ID system to simplify the formalities each citizen must complete each year.
However, Mendoza, an Argentine province, is accepting payments for taxes in crypto through a payment provider since August, receiving national currency delivered by this payments company. The currencies currently accepted are stablecoins like USDC, USDC, and DAI.
What do you think about Curitiba’s proposal to accept cryptocurrency as payment for municipal taxes? Tell us in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
This news is republished from another source. You can check the original article here.