Honduran special economic zone has accepted bitcoin as legal tender
Bitcoin bonds can be issued within its jurisdiction using standards for AML and KYC
09.04.2022 - 08:45
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What’s new? Próspera, a special economic zone located on the island of Roatan in the Western Caribbean and Northern Honduras, has announced the adoption of bitcoin as a legal tender. In addition, bitcoin bonds can be issued in the zone using standards for AML (anti-money laundering) and KYC (know your customer).
What are the benefits of Próspera? The special economic zone reported that municipalities, local governments, and international companies can issue bitcoin bonds in its jurisdiction to attract foreign investments. In Próspera, transactions in bitcoin and other cryptocurrencies are not subject to capital gains tax.
What had happened before? Honduras’ neighboring country, El Salvador made bitcoin legal tender alongside the US dollar in September 2021. In February 2022, El Salvador planned to issue bitcoin bonds. Finance Minister Alejandro Zelaya expects the oversubscription for bonds to be at least $500 million.
In the same month, El Salvador’s Tourism Minister, Morena Valdez, reported that tourism in the country increased by 30% after BTC became the official means of payment.
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