Special tax regime will be created for BTC investors in El Salvador

by in Cryptocurrency News

El Salvador

El Salvador's authorities are considering options to ease the tax regime for all cryptocurrency investors.

Bitcoin holders will be exempt from income tax even if they make large profits from trading with this asset.

Javier Argueta, who holds the post of legal adviser to Salvadoran President Nayib Bukele, told reporters about his readiness to refuse to collect fees from BTC holders. According to him, the team of the head of state believes that the preferential tax regime will attract additional investments in the economy in the form of digital currency.

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El Salvador will not levy taxes on capital gains or income, the expert emphasized. At the same time, the authorities do not intend to give complete freedom to cryptocurrency investors. With the help of a monitoring system built into the official Chivo crypto wallet, they will track the movement of funds in BTC.