According to Deep Tide TechFlow, on May 10, the Belo Horizonte City Council in Brazil preliminarily approved a bill designating the city as the 'Bitcoin Capital.' The bill passed with 20 votes in favor, 8 against, and 6 abstentions.
The bill allows the city government to accept Bitcoin for tax payments and municipal fees, and encourages local businesses to adopt cryptocurrencies. The 'Bitcoin Freedom' plan proposed by councilman Vile Santos aims to promote cryptocurrency innovation.
The bill includes cryptocurrency education activities, and participating merchants will receive promotion at municipal events. The PL party supports the bill, while the PT and PSOL parties oppose it. The bill requires a second round of voting before being signed or vetoed by the mayor.
