Honduras' Próspera ZEDE Recognizes Bitcoin as Official Unit of Account: A Global First

January 7, 2024
Honduras' Próspera ZEDE Recognizes Bitcoin as Official Unit of Account: A Global First
  • The 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.

Summary based on 0 sources


Get a daily email with more Crypto stories

More Stories