Buenos Aires Mayor To Allow Tax Payments In Bitcoin: Report

Buenos Aires mayor will allow the residents to pay taxes in Bitcoin and this is only one of the many ideas that Horacio Rodriguez Larreta has for improving the government so let’s read more today in our latest Bitcoin news.

The Buenos Aires mayor gave a virtual presentation on the new ways to optimize city government one of which is allowing the residents to pay taxes in crypto like BTC. The plan has 12 main goals and of which is using blockchain technology for protecting personal data. The overall vision focused on improving public services via technological reforms, as the mayor noted:

“We have the clear conviction that citizens must own their information, their documents because we trust in their capacity and they have the responsibility to do so. All this data flow, which is going to increase exponentially, is going to be protected by blockchain technology, the second transformation.”

En mayo y junio vamos a lanzar la octava transformación, que va a ampliar los canales de denuncias. Vamos a instalar cabinas de denuncias virtuales en subtes y shoppings, códigos QR para denuncias web y el 911 va a empezar a tomar denuncias por vía telefónica.

— Horacio Rodríguez Larreta (@horaciorlarreta) April 26, 2022

Rodriguez Larreta said that so far the city digitized up to 900 different procedures and to keep pace, taking advantage of the decentralzied digital technologies will be required. The draft form Larreta’s plan was released on March 10:

“People will have the possibility to digitally authenticate their identity through an application and will have access, in a single place, to their information, documentation and personal records, facilitating the management of their procedures, applications and permits.”

Rodriguez Larreta said that leveraging blockchain technology will allow users to have control over their data and the blockchain ID services have already been widely explored while among them initiatives by ConsenSys and IBM as well as the World Economic Forum. To avoid the risks related to crypto volatility, the municipality doesn’t plan to hold any tokens as part of the public treasury. The plan is to collaborate with payment processors and wallets to convert crypto payments into fiat money like Argentina already did.

As recently reported, Argentina Is set to include crypto companies in their AML laundering regulations. Argentina cracked down on crypto and it involved crypto companies in its wider anti-money laundering regime. Argentina’s Unidad de Informacion Financiera is the country’s competent authority when it came to regulating the money laundering risks and it is now working on adding crypto companies to the list of entities that are subject to AML reporting requirements. According to someone with knowledge on the matter, the plan for the new regulations to come into force this year.