In Salvador, foreign investors will be released from income taxes from operations with Bitcoins. According to France24, thus the country seeks to attract money.
Salvador on September 7 became the first country, which recognized Bitcoin by a legitimate means of payment.
“If a person has assets in Bitcoins, and he receives high profits, there will be no taxes for him,” said the legal adviser to the President of Niaba Kuvele Javier Argenet. – There will be no taxes both on the increase in capital and income ” .
Bitcoin’s volatility causes doubts about the financial stability of the currency. To dispel concerns, Argety stated that transactions will be temporarily suspended if the cost of cryptocurrencies fall sharply. The legal adviser added that the cryptochelek, which Salvador develops for use by citizens will contain a “appropriate mechanism” to track so that the cryptomones are not used for illegal activities.
After Salvador admitted cryptocurrency to the official means of payment, Bitcoin’s course collapsed from 52 thousand to 46.8 thousand dollars. At the time of writing news, the cost of Bitcoin is 44.7 thousand dollars. Concerns due to the instability of the course and possible illegal operations turned into street riots. Protesters gathered gathered at the building of the Supreme Court, where the tires were burned and launched fireworks.