One of them is Brazil’s tourist hot spot Rio de Janeiro, whose Municipal Secretary of Finance and Planning Andrea Senko reiterated the city government’s plans to integrate with Bitcoin (BTC) and the crypto market, with the aim for the city to become “the crypto ecosystem of Brazil,” Boletim Bitcoin reported on July 5. In an exclusive interview with the Brazilian outlet, Senko confirmed the city’s intention to adapt to the future, explaining that: Furthermore, she also addressed the question of Bitcoin adoption, stating that: To this end, the city’s authorities established a Municipal Committee for Crypto Investments (CMCI) on March 30, 2022, with a task to work on “an investment policy on cryptoassets and a governance model for decision-making.”
Brazil on the path of crypto adoption
Brazil is already showing strong interest in crypto adoption, with Congressman Paulo Martins presenting a legislative proposal to the members of the country’s National Congress in mid-June, with wording that introduces a detailed definition of cryptocurrencies and recognizes Bitcoin as means of payment. If this bill is adopted, Brazil could become the next country on the list of those introducing the flagship digital asset as legal tender, following in the footsteps of El Salvador and the Central African Republic (CAR). Meanwhile, the country is already a pioneer in launching the world’s first decentralized finance (DeFi) exchange-traded fund (ETF), having it approved in January 2022, as Finbold reported.
