Rio de Janeiro aims to become Brazil’s next crypto-ecosystem.

Several Rio de Janeiro government officials want to turn the city into “Brazil’s cryptoecosystem”.

Rio de Janeiro’s Secretary of Finance and Planning Andrea Senko told boletimbitcoin and revealed the city’s plans to become “Brazil’s crypto ecosystem.” The city established a Municipal Crypto Investment Committee (CMCI) to boost Rio de Janeiro’s crypto presence in the nation.

There were reportedly plans in the past for the city to convert 1% of the treasury into bitcoin. Mayor Eduardo Paes said the decision was inspired by following in the footsteps of Miami, which is integrating with bitcoin.

When asked about Bitcoin adoption, Andrea Senko stated:

Rio, because of its vocation as a global city, is attentive to the main changes and innovations in the world, and is always at the forefront of these issues. The city has an eye to the future and the City Council has been following all the technological and economic advances.

The goal is to make the city of Rio the cryptographic ecosystem of Brazil, contributing to the city becoming the innovation and technology capital of the country.

Municipal Cryptoinvestment Committee

The city of Rio de Janeiro established a Municipal Cryptoinvestment Committee to assist in administrative decisions related to the market. When asked about the organization’s activities, the Secretary of Finance stated:

The Municipal Cryptoinvestment Committee – CMCI, constituted on March 30, 2022, is working on a cryptoasset investment policy and a governance model for decision-making.

This contribution will follow a methodology attentive to the oscillations and risks of this market and is being developed by the City Council .

The Secretary of Finance believes that the national adoption of Bitcoin by El Salvador is positive that the country is opening up to the cryptocurrency market, however he is not aware of other municipalities following the same interest in adopting bitcoin.

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