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Bitcoin Welcomed as Legal Tender in Honduras Economic Zone

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Honduras Economic Zone

Bitcoin has been recognized as legal tender in an economic zone in Honduras, allowing individuals and businesses to use digital token in transactions.

Source: Próspera

Bitcoin is down 0.95%, ETH up 0.61%, and ADA down 1.66%.

Bitcoin was made a de factor currency in the Próspera ZEDE economic zone in the island of Roatán in the Western Caribbean and the Northern Corridor of Honduras, not subject to capital gains taxes.

Municipalities, local governments, and international firms will also be allowed to issue Bitcoin Bonds from the Próspera ZEDE jurisdiction with know-your-customer and anti-money laundering standards.

The development will enable local communities to gain direct access to the global cryptocurrency marketplace, which hit almost $2 trillion in the past year and is projected to exceed $30 trillion by 2027.

The announcement comes in a bid to boost foreign direct investments into the area, with the economic zone’s promoter currently accepting investment in a security token convertible note offering.

 

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