{"id":3376,"date":"2022-04-14T15:24:45","date_gmt":"2022-04-14T15:24:45","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=3376"},"modified":"2022-04-14T15:24:46","modified_gmt":"2022-04-14T15:24:46","slug":"crypto-friendly-special-economic-zone-in-honduras-adopts-bitcoin-as-legal-tender","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=3376","title":{"rendered":"Crypto-Friendly Special Economic Zone in Honduras Adopts Bitcoin as Legal Tender"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>A crypto-friendly special economic zone in Honduras has adopted bitcoin as legal tender, allowing the cryptocurrency to be used to pay taxes and fees. In addition, bitcoin bonds can be issued within its jurisdiction using \u201cworld-class standards for AML and KYC.\u201d<\/strong><\/p>\n<h2>Bitcoin Operates as Legal Tender in Pr\u00f3spera<\/h2>\n<p>Pr\u00f3spera, a special economic zone located on the island of Roatan in the Western Caribbean and the Northern Corridor of Honduras, announced Thursday that it has adopted bitcoin as legal tender. Referring to Pr\u00f3spera as \u201ccrypto-friendly,\u201d the announcement details, \u201cBitcoin and other cryptocurrencies effectively operate as legal tender within its jurisdiction.\u201d<\/p>\n<p>A spokesperson for Pr\u00f3spera told Bitcoin.com News:<\/p>\n<p>Pr\u00f3spera has no capital gains taxes, which means that bitcoin and other cryptocurrencies effectively operate as legal tender in the jurisdiction.<\/p>\n<p>\u201cResidents and businesses in Pr\u00f3spera may transact using bitcoin, Honduran Lempiras, U.S. dollars, or any other currency of their choice without triggering capital gains tax liabilities on transactions,\u201d the spokesperson added.<\/p>\n<p>The announcement notes:<\/p>\n<p>Unlike most other jurisdictions, transactions in bitcoin and other cryptocurrencies are not subject to capital gains taxes.<\/p>\n<h2>Issuing Bitcoin Bonds<\/h2>\n<p>Pr\u00f3spera also announced that starting Thursday, \u201cmunicipalities, local governments, and international firms can issue bitcoin bonds\u201d in its jurisdiction \u201cto attract foreign investments.\u201d<\/p>\n<p>The special economic zone noted that bitcoin bonds issued through Pr\u00f3spera \u201cwill comply with world-class standards for AML [anti-money laundering] and KYC [know your customer].\u201d<\/p>\n<p>El Salvador, a neighboring country of Honduras, made bitcoin as legal tender in September last year alongside the U.S. dollar. The country\u2019s tourism has increased 30% after BTC became legal tender.<\/p>\n<p><em><strong>What do you think about this special economic zone in Honduras adopting bitcoin as legal tender? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/crypto-friendly-special-economic-zone-in-honduras-adopts-bitcoin-as-legal-tender\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A crypto-friendly special economic zone in Honduras has adopted bitcoin as legal tender, allowing the cryptocurrency to be used to pay taxes and fees. In addition, bitcoin bonds can be issued within its jurisdiction using \u201cworld-class standards for AML and KYC.\u201d Bitcoin Operates as Legal Tender in Pr\u00f3spera Pr\u00f3spera, a special economic zone located on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-3376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3376"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3376\/revisions"}],"predecessor-version":[{"id":3378,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3376\/revisions\/3378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/3377"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}