Honduras Special Economic Zone Recognized Bitcoin as Unit of Account

Honduras Special Economic Zone Recognized Bitcoin as Unit of Account
Source: Finbold

Próspera, a special economic zone in Roatan, Honduras, has officially recognized Bitcoin as a unit of account, meaning it can now be used to measure the market value of goods and services.

Jorge Colindres, the acting manager and tax commissioner of Próspera ZEDE (Zone for Employment and Economic Development), said the motive was to offer more financial fressdom to individuals and businesses operating in the area.

He also said entities will be able to report tax liabilities and pay the corresponding amounts in BTC after solving technoligical limitations with its eGovernance system as well as some external regulatory issues.

Próspera ZEDE was launched in May 2020 on the northern island of Roatan. The region made BTC legal tender in April 2022.

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