This articles is from www.blocknews.com.br and the original article can he read here in Portuguese
Honduras adopts bitcoin on the island and believes it will attract investment.
Prospera, a special economic zone on the island of Roatán in Honduras, announced that bitcoin and other cryptocurrencies will be legal currencies in its jurisdiction. Thus, Honduras, at least in part, follows the example of El Salvador, which has bitcoin as its legal tender, in addition to the dollar, but throughout the country.
Roatán Próspera was the first special zone developed on the Prosperous Platform, which seeks to implement a sustainable economic model. The creation of this zone took place in 2020. And in it a flexible legal and regulatory system, low taxes and protection of the environment. The first homes are for sale on site.
According to Prospera, cities, local governments and foreign companies will be able to issue bitcoin bonds from the island’s jurisdiction. This will serve to create a new tool to attract foreign investment to the country, according to a press release. But non-United States (US) companies and other governments will also be able to issue bitcoin bonds. That’s because the island’s regulatory system will allow it.
Both people and companies will be able to use bitcoin to make payments. In addition, transactions with this and other cryptocurrencies will not incur capital gains tax. The island will also accept cryptocurrencies for payment of taxes and fees. According to the island, it will also be possible to have businesses focused on bitcoin and that will be able to use the regulations they prefer, which have global standards of customer knowledge (KYC).
Prospera Inc., a Delaware (USA) company that promotes and organizes the island, is accepting investments in a cryptocurrency that can be converted into a bond offering. Investors can put funds into Prospera and receive shares in token format.