Honduras’ crypto-friendly special economic zone uses Bitcoin as fiat currency, and you can use it to pay taxes and fees. In addition, Bitcoin bonds can be issued within their jurisdiction using the “World-Class Standards for AML and KYC”.
Bitcoin acts as fiat currency in Próspera
Prospera, a special economic zone located on the island of Roatan in the West Caribbean and the northern corridor of Honduras, announced on Thursday that it has adopted Bitcoin as its legal tender. Calling Próspera “cryptocurrency friendly,” the details of the announcement are “Bitcoin and other cryptocurrencies effectively serve fiat currencies within their jurisdiction.”
A Próspera spokesman told Bitcoin.com news:
There is no capital gains tax on Próspera. That is, Bitcoin and other cryptocurrencies effectively function as fiat currencies in the jurisdiction.
“Próspera residents and businesses can trade in Bitcoin, Honduras Lempira, US dollars, or any other currency without incurring capital gains tax obligations in the transaction,” said a spokesman. Added.
Unlike most other jurisdictions, trading in Bitcoin and other cryptocurrencies is not subject to capital gains tax.
Issuance of Bitcoin bonds
Próspera also announced on Thursday that “local governments, local governments, and international corporations can issue Bitcoin bonds” in their jurisdiction “to attract foreign investment.”
Special Economic Zone said Bitcoin bonds issued through Próspera “conform to AML world-class standards” [anti-money laundering] And KYC [know your customer].. “
What do you think of this special economic zone in Honduras, which uses Bitcoin as its legal tender? Let us know in the comments section below.
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