Crypto-Friendly Special Economic Zone in Honduras Adopts Bitcoin as Legal Tender

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Crypto-Friendly Special Economic Zone in Honduras Adopts Bitcoin as Legal Tender – Próspera, a special economic zone in the Western Caribbean and the Northern Corridor of Honduras, released a Statement saying that bitcoin has been accepted as legal tender. 

“Bitcoin and other cryptocurrencies effectively operate as legal tender inside its jurisdiction,” the release says, referring to Próspera as “crypto-friendly.”

Próspera’s spokesperson cited:

“Próspera has no capital gains taxes, which effectively makes bitcoin and other cryptocurrencies legal tender in the country.”

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“Residents and enterprises in Próspera can transact in Honduran Lempiras, bitcoin, US dollars, or some other currency they want without incurring capital gains tax liabilities,” the spokesperson continued.

The announcement notes:

“Unlike most other jurisdictions, bitcoin and other cryptocurrencies transactions are not subject to capital gains taxes.”

Próspera also said that “local governments, municipalities, and multinational enterprises” will be able to issue bitcoin bonds in its jurisdiction starting Thursday in order to attract foreign investment.

Also Read: Ukrainian Charity Organization Launches NFT Sale

Crypto-Friendly Special Economic Zone in Honduras Adopts Bitcoin as Legal Tender – Próspera bitcoin bonds “will meet world-class requirements for AML (anti-money laundering) and KYC (know your customer),” according to the special economic zone.

El Salvador, a neighboring country to Honduras, made bitcoin legal tender alongside the US dollar in September of last year. Tourism in the country has surged by 30% since BTC became legal tender.

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