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A Peruvian City Encourages Bitcoin Use

CJ - Cryptocurrency Enthusiast

Bitcoin is considered an "inevitable" and required means of payment by La Molina's local authority.

  • Mayor Lvaro Paz de La Barra feels that allowing people to pay their taxes in cryptocurrency will reduce tax avoidance
  • The adoption of wallets that enable the Bitcoin Lightning network is recommended by local authorities

Peru's La Molina mayor has launched a training program to promote the usage of Bitcoin and other cryptocurrencies. For the "MoliCoin" effort, some 10 restaurants have already joined up, and it's probable that more local businesses will do the same shortly.

A crucial objective, in the opinion of Mayor Lvaro Paz de la Barra, is to bring digital assets closer to society. "We firmly believe in this new method of paying for goods and services around the globe." In a statement, he stated, "As a municipal administration, we will continue to support innovation because La Molina and Peru deserve to be a Latin American innovation hub.”

The MoliCoin program aims to give "answers on how restaurants and businesses may accept Bitcoin and other cryptocurrencies, as well as the proper selection and usage of wallets and different pieces of advice on the peculiarities of Blockchain technology," according to its website.

The capital district's residents and businesses are being advised by the mayor's office to become familiar with "the usage of Lightning Network (LN)-connected wallets, which reduces use costs and boosts efficiency)." The plan is an attempt by La Molina's administration to reduce tax evasion. The mayor stated that while "digital currency does not create corruption," "physical cash fosters corruption," in an interview with local network "Willax Television." He continued by saying that using digital wallets to pay taxes in Bitcoin will lessen tax evasion.

"A Powerful Strategy" Is Cryptocurrencies

By the end of the year, Paz de la Barra expects 500 commercial enterprises in La Molina to have joined the initiative. Currently, ten businesses accept cryptocurrency as payment for products and services.

"We are a creative municipal government, and we view cryptocurrency investment as a strong tool," said the Mayor's Manager of Economic Development and Private Investment. Reátegui, Jorge He stated that "the acceptance of cryptocurrencies as a method of payment will be inevitable," and vowed to continue pushing decentralized technology, a policy to which the entire government team is dedicated.

Why Should You Be Concerned

Other cities, like as Rio de Janeiro in Brazil, may soon accept Bitcoin cash buy for tax payments.

The mayor of La Molina has joined the efforts of other mayors around Latin and North America to embrace cryptocurrency use. Francis Suárez and Eric Adams, the current mayors of Miami and New York, are both seeking to encourage the usage of cryptocurrency in respective cities and beyond.

If you are looking for a place to buy cheap crypto currency, either to buy Bitcoin or other cryptocurrencies, please visit a trusted BTC broker – BC Bitcoin.

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