El Salvador update on BTC

President Bukele just announced that he is implementing a national wallet in September called “chivo” (means cool in Salvadoran slang)

The government is giving 30 usd to anyone that creates an account, by law you will have to accept BTC as a company... but the wallet let’s you convert the BTC to usd immediately.

He mentioned there will be two types of wallets... one for the people and one for companies.

Apparently the wallet also is compatible with other Bitcoin wallets...

You will be able to pay taxes with BTC... except you won’t need to pay taxes for the BTC you hold.

Foreigners who come to invest in crypto in El Salvador will be granted permanent residency and will not have to pay taxes for the crypto they invest in.



Submitted June 25, 2021 at 10:07AM by ifeelanime https://ift.tt/3qr5sh2

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