prolly nothing... https://www.reuters.com/world/ameri...-zone-adopts-bitcoin-legal-tender-2022-04-07/ Honduran special economic zone adopts bitcoin as legal tender By Gustavo Palencia 1 minute read A representations of cryptocurrency Bitcoin is seen in front of a stock graph and U.S. dollar in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/File Photo Register now for FREE unlimited access to Reuters.com TEGUCIGALPA, April 7 (Reuters) - A special economic zone on a tourist-centric island on Honduras' Caribbean coast has adopted bitcoin and other cryptocurrencies as legal tender, officials of the zone said on Thursday. Called "Honduras Prospera," the special zone was established in 2020 to help encourage investment, and has administrative, fiscal and budgetary autonomy. "Prospera's flexible regulatory framework enables crypto-innovation and the use of Bitcoin by residents, businesses, and governments," Honduras Prospera said in a statement. The economic zone will also let municipalities, local governments and international firms issue bitcoin bonds from the area's jurisdiction. Honduras Prospera covers parts of the picturesque Roatan island as well as the city of La Ceiba on Honduras' Atlantic Coast. Neighboring country El Salvador adopted bitcoin as legal tender in September, the first country in the world to do so, although the roll-out was bumpy and mired in public skepticism. In Honduras, the Central Bank has said it cannot vouch for cryptocurrency transactions. "Any transaction carried out with this type of virtual asset falls under the responsibility and risk of the person carrying it out," the bank said in a March statement sent in response to queries on Thursday.
prolly more nothing... https://www.forbes.com/sites/ninaba...itories-are-adopting-bitcoin/?sh=7ecec440499a Two New Territories Are Adopting Bitcoin Nina Bambysheva Forbes Staff SAN SALVADOR, EL SALVADOR - Last year, El Salvador became the first country to accept bitcoin as ... [+] GETTY IMAGES Prospera, jurisdiction on the Roatán island off of the northern coast of Honduras, and Madeira, an autonomous region in Portugal, are adopting bitcoin as de facto legal tender—the latest territories to do so, following El Salvador’s official recognition of the asset in September 2021. Today’s announcements were made on the very stage where Salvadoran President Nayib Bukele made history last April. Bukele was also scheduled to appear at the conference later this afternoon but canceled the visit after his government declared a state of emergency amidst a wave of gang-related killings. In Prospera, residents won’t have to pay capital gains tax on bitcoin and will be able to pay taxes and fees to the jurisdiction using the cryptocurrency, said Joel Bomgar, Prospera’s president, and Samson Mow, former Chief Strategy Officer of bitcoin infrastructure company Blockstream (He has recently left the firm to focus on nation-state bitcoin adoption). Starting today, Prospera will also enable ‘enable other municipalities in Honduras or other companies or political subdivisions outside of the United States to float bitcoin bonds from within the Prospera jurisdiction,” said Bomgar. This is “an incredible way to bring foreign direct investments to the part of the world that needs it most,” he added. The launch of the first bitcoin bond, designed by Mow for El Salvador, has recently been postponed due to ‘unfavorable market conditions.’ Bomgar and Mow were joined by Miguel Albuquerque, president of the Regional Government of Madeira in Portugal, who announced that Madeira’s residents won't need to pay personal income taxes when buying or selling bitcoin, and Indira Kempis, a Mexico senator representing the state of Nuevo León, who called on the country's president to adopt bitcoin as legal tender immediately and proposed new monetary legislation, though no additional details were provided.
I love it, the more the merrier. Im not even a crypto investor but the centralized banking system is trash.
My gut tells me this is gong to end very very badly. When the gubment realizes they have been losing so much tax revenue through bitcoin appreciation, they will retroactively tax these people in later years, which is win-win for gubment, and doubly-bad for the citizen.