Belo Horizonte City Council Approves Bitcoin Incentive Bill
The Belo Horizonte City Council in Brazil has approved a new Bitcoin incentive bill aimed at promoting the adoption of digital payments and fostering economic growth. The legislation passed with a vote of 20 in favor, 8 against, and 6 abstentions. It proposes to incentivize businesses that accept Bitcoin payments by promoting them in city advertising campaigns. Additionally, the bill includes educational initiatives to assist citizens in adapting to digital transformation. The bill now awaits final approval from the mayor's office.
This initiative aligns with broader trends in Brazil, where there is a growing interest in integrating cryptocurrencies into the financial system. For instance, a bill has been introduced in the National Congress proposing that companies could pay their employees in Bitcoin, provided there is mutual agreement between employers and employees.
If the Belo Horizonte bill receives final approval, the city could become a leader in municipal-level cryptocurrency adoption, potentially influencing other cities in Brazil and beyond to consider similar measures.