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2024: Bitcoin becomes official currency in Honduras
On January 5, 2024 Honduras , the Prosper Special Economic Zone, located on the island of Roatan, was officially recognized bitcoin as a settlement unit. This allows you to use cryptocurrency as a monetary means to measure the market value of various goods and services.
The new initiative was announced by Jorge Colindres, Acting Governor and Tax Commissioner of the Prosper Employment and Economic Development Zone (ZEDE). The goal of the project is to provide more financial freedom to individuals and businesses operating in the specified area.
We believe in the right to financial and monetary freedom. People should be able to transact, book and report taxes in a currency of their choice, "Colindres said. |
As of early January 2024, Prosper did not realize the ability to pay taxes in bitcoins. This is due to certain technological limitations of the electronic control system. In addition, it talks about "some external regulatory problems." Therefore, the tax obligations of organizations that choose cryptocurrency for their work will be fulfilled in US dollars or Honduran lempira. As soon as all obstacles are eliminated, organizations will be able to send reports and pay the necessary amounts in bitcoins.
Those who are interested in Bitcoin becoming its settlement unit must submit a notification to the Prospera Tax Commission within 30 days after the corresponding tax period. The statement should include a link to an approved cryptocurrency exchange such as Coinbase or Kraken. Colindres also called ZEDE one of the "most competitive special modes" in Latin America.[1]