El Salvador eximirá a los inversores de bitcoins de pagar impuestos
Bitcoin investors will be exempted from the obligation to pay taxes in El Salvador. This was announced by the right adviser to the president of the country, adding that the matter concerns the exemption of depositors from income tax from BTC and capital gains tax.
Advisor to the President of El Salvador Javier Argueta said that Nayib Bukele intends to provide more scope for those interested in cryptocurrency investments. In particular, we are talking about tax breaks for foreign investors, which, according to the authorities, will facilitate the flow of capital into the country.
At the same time, Argueta stressed that the authorities will toughly fight against the potential use of digital currencies in illegal activities by tracking monetary transactions in the national crypto wallet Chivo. In addition, the official mentioned that the country seeks to adhere to the methods of international organizations fighting money laundering.
If the price of BTC suddenly collapses, transactions with its participation in the Chivo wallet will be suspended to avoid extreme fluctuations in the value of the main crypto asset.
After Bitcoin's recent fall and its acceptance as a legal means of payment in El Salvador, Chivo's wallet has had a hard time as well. Despite the high popularity in the Google Play and AppStore app stores. immediately after the launch, users faced some problems, because of which the crypto wallet went for temporary maintenance. But literally on the same day, his work was restored.
Chivo allows you to convert Bitcoins into dollars, as well as withdraw funds using special crypto ATMs, which began to be installed throughout the country in August this year.