Honduras' Próspera ZEDE Recognizes Bitcoin as Official Unit of Account: A Global First
January 7, 2024The Próspera ZEDE in Honduras has officially recognized Bitcoin as a unit of account.
Entities interested in using Bitcoin must notify the Tax Commissioner and reference an approved major cryptocurrency exchange.
Tax liabilities will initially be determined in BTC for internal accounting but reported in US dollars or local currency.
Upon implementation of the Final BTC Tax Payment Procedure, tax liabilities will be reported in BTC and entities will pay in Bitcoin.
Prospera, Honduras' special economic zone, is the first jurisdiction in the world to recognize Bitcoin as a legitimate unit of account.
This move is anticipated to encourage innovation and investment within the economic zone and sets a precedent for other nations to integrate Bitcoin and other cryptocurrencies into their economies.
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