The government of La Molina recommends using wallets that support the Bitcoin Lightning network. The mayor considers that the digital nature of Bitcoin will prevent users from evading taxes.
The city hall of La Molina in Lima, Peru, is already implementing the MoliCoin program. That initiative seeks to promote payments in Bitcoin (BTC) and other cryptocurrencies in local businesses.
Mayor Álvaro Paz de la Barra considers it crucial to bring cryptocurrencies closer to society. He said he firmly believes in this new way of paying for goods and services worldwide.
The official also promised they would continue pushing innovations as a local government to make Peru prominent in that sector. According to a statement from the city hall, the MoliCoin program would provide answers on how a business can take payments in cryptocurrencies. They also said it would deal with choosing a wallet, using it correctly, and giving various advice.
They recommend wallets that integrate the Lightning Network (LN) to reduce fees and allow instant transactions.
The mayor pointed out on a local television channel that one of the objectives is to prevent tax evasion. He explained that physical currencies give rise to corruption while digital currencies do not.
Ten restaurants have joined the initiative to accept Bitcoin and other cryptocurrencies as payment. By the end of the year, an estimated 500 establishments will join that project.
Bitcoin Can Generate a Positive Impact on Peruvian Businesses
Jorge Reátegui Reátegui, manager of Economic Development and Private Investment of La Molina, also talked about the initiative. He said that cryptocurrencies are a powerful strategy, and wallets allow for commercial transactions at local businesses in the district.
Reátegui expressed that he was confident that adopting cryptocurrencies as a payment method would be inevitable. In that regard, he promised that they would further spread what decentralized technology does.
El Salvador, where Bitcoin has been legal tender since September 2021, knows of the Molinense initiative. Pablo Caballero, the Salvadoran ambassador to Peru, expressed the need for strict government control when using BTC as a payment means.
The official statements did not inform whether the government plans to issue a new cryptocurrency. Even though there is an Ethereum token named Molicoin, it does not have any relationship with the Peruvian project.
Where People Can Buy Bitcoin in Peru
Many more people may become interested in the MoliCoin project if the initiative goes according to plan.
There are many ways to acquire Bitcoin and other cryptocurrencies in Peru. Citizens can find exchanges, brokers, and P2P platforms, among many other alternatives.
Bitcoin is trading at around USD 46,616 and has accumulated a 1.4% gain over the last 24 hours. Its daily trading volume is above USD 26.31 billion, and its market capitalization is about USD 885.86 billion, according to CoinGecko.
The pioneering cryptocurrency has become increasingly relevant in the economy, which the government of Peru has not overlooked. For that reason, they have decided to implement an initiative that will allow local businesses to accept Bitcoin as a payment method.
By Alexander Salazar
