Buenos Aires City to Enable Tax Payments With Crypto

Argentina’s capital, Buenos Aires, will soon allow its citizens to pay taxes using cryptocurrencies such as Bitcoin (BTC), as part of a digitization plan called “Buenos Aires+”, which focuses on improving public services through technological reforms. The proposal is similar to the one presented by Brazil’s Rio de Janeiro in March, which also announced it will accept cryptocurrency as payment for a municipal real estate tax starting from 2023. Taxes in Crypto Will be Converted to Argentine Pesos According to Mayor Horacio Rodríguez Larreta, the Buenos Aires City government will not directly receive the crypto from residents but instead via conversions to the Argentine pesos carried out by “leading” crypto companies. Rodriguez Larreta said that so far the city has digitized almost 900 different procedures. To continue with its digitization plans, the government has also taken up the help of decentralized digital technologies. In March, the government of Buenos Aires presented a white paper proposing a blockchain-based digital identity platform that gives the city’s residents control over their personal data. It is expected to be operational between the last quarter of 2022 and the first quarter of 2023.The post Buenos Aires City to Enable Tax Payments With Crypto first appeared on Cryptoknowmics-Crypto News and Media Platform.The post Buenos Aires City to Enable Tax Payments With Crypto appeared first on Cryptoknowmics-Crypto News and Media Platform.