Honduran special economic zone adopts Bitcoin as unit of account
Próspera ZEDE, the Honduras special economic zone, has officially recognized Bitcoin (BTC) as a unit of account . This move effectively acknowledges the legitimacy of the cryptocurrency in diverse commercial, tax, and financial transactions. The announcement, disclosed on January 5 by Jorge Colindres, the acting manager and Tax Commissioner of the zone, outlined the conditions under which legal entities can adopt Bitcoin as their unit of account. “Próspera ZEDE recognizes the right of (e)Resident legal entities organized or registered under the authority of the Prospero Entity Registry Statute to use Bitcoin (“BTC”) as their respective unit of account , in the sense of the monetary unit or measure of value in terms of which their account s are kept and values stated,” the statement said. For instance, entities interested in adopt ing Bitcoin as their unit of account must file a notice with the Tax Commissioner within thirty days of the relevant tax...