Honduran Special Economic Zone Adopts BTC as Legal Tender

Economic Zone Adopts BTC

Special Economic Zone in the Northern Corridor of Honduras, Próspera ZEDE, has announced that Bitcoin and other cryptocurrencies will become a legal tender in the region.

Próspera DEDE has also allowed the local authorities to issue Bitcoin bonds from the jurisdiction with the relevant KYC and AML documentation.

The directive is expected to attract Foreign Direct Investments in the Honduran zone situated on Roatan Island in the Western Caribbean.

Individual traders and enterprises using cryptocurrencies in payment will not pay capital gains tax, and all tax remittances and fees in the zone can be settled in BTC.

Próspera ZEDE expresses optimism that bitcoin bonds will be a solution for the local communities to tap into the cryptocurrency market and turn the zone into an innovation hub.

While the step only applies to the Próspera ZEDE, it is expected to positively impact the adoption of digital currencies in Honduras.

Source: Próspera

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