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Belo Horizonte passed a preliminary bill to allow Bitcoin for paying taxes and encourage merchant adoption across the city. Brazil is expanding crypto integration through NFT-based court summons, futures contracts, and upcoming stablecoin regulations. The city government of Belo Horizonte in Brazil seems to be keeping up with the crypto adoption trend. They recently passed the initial phase of a bill that aims to make the city a “Bitcoin Capital.” The bill will allow residents to pay taxes and city fees using Bitcoin. But not only that, but businesses will also be given incentives to accept BTC as a means of payment. If fully approved, this could be the boldest move ever made by a major Brazilian city regarding crypto. Belo Horizonte, Brazil, has taken a first step toward becoming the “Bitcoin Capital.” A new bill passed in a preliminary vote would let residents pay city taxes and fees using BTC and encourage local businesses to accept crypto. pic.twitter.com/4ROd7bhKmd — Satoshi Club (@esatoshiclub) May 10, 2025 City Council Divided on Bitcoin Vision Furthermore, this plan is not just about adopting Bitcoin to pay taxes. The city government also wants to promote digital literacy through crypto training for the community. There is a modern yet revolutionary touch, as if they want to prove that the city can be a worthy digital economy hub. Still, some council members disagree. Some of them, particularly those from the Workers’ Party, voiced worries about the legal risks and volatility of Bitcoin. They underlined the lack of regulation and state-guaranteed value for Bitcoin as well as the reality that it has none. Conversely, advocates like Vile Santos view Bitcoin as a tool to draw tech-based companies to the city and a sign of financial freedom. Brazil Pushes Ahead With Crypto Integration Belo Horizonte’s move seems to…

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Filed under: News - @ May 11, 2025 8:11 am