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El Salvador to exclude foreign investors from Bitcoin tax policies

El Salvador is doing all it can to see that its Bitcoin Law is a success. Authorities of the countries are now looking to exempt foreign investors from taxes on Bitcoin...
El Salvador to exclude foreign investors from Bitcoin tax policies © Reuters. El Salvador to exclude foreign investors from Bitcoin tax policies

El Salvador is doing all it can to see that its Bitcoin Law is a success. Authorities of the countries are now looking to exempt foreign investors from taxes on Bitcoin profits.

Javier Argueta, the legal adviser to El Salvador’s president, disclosed the information that is aimed at encouraging entrepreneurs and investors to migrate into the region.

While speaking with AFP, Argueta stated that “If a person has assets in Bitcoin and makes high profits, there will be no tax. This [is done] obviously is to encourage foreign investment.”

He also revealed that the country was liaising with international agencies to make sure it adheres to financial regulations.

Recall that back in June, President Bukele announced that his government was willing to grant permanent residency to people who invest up to 3 Bitcoin in the economy.

The adoption of Bitcoin as legal tender in the country is proving to be problematic despite being in its early days. It has attracted criticisms from different cycles, including regulators and opposition parties.

Entities such as the International Monetary Fund (IMF) have pinpointed traceability and prevention of illicit financial activities as major areas of concern. The nation’s internal ministers have also raised concerns over the volatile nature of Bitcoin, saying that it could have a negative impact on the payment of salaries.

Apparently, the coming year will determine the role Bitcoin will play in the local economy. A few prominent participants in the crypto space have also aired their views on the matter.

Charles Hoskinson, CEO of Input Output Hong Kong (IOHK), stated that every country needs a Bitcoin strategy. He went on to compliment El Salvador’s decision and emphasized that nothing in human history had grown so quickly.

Meanwhile, citizens took to the streets to protest against the decision. Another citizen group filed a lawsuit against the government in what may be the heaviest counter move so far.

However, the government remains adamant in its decision to adopt the digital asset.

According to BTC PEERS, El Salvador’s official Bitcoin wallet (The Chivo wallet) was launched on September 7, with $30 in Bitcoin offered to new users on the app. The government also bought 400 BTC to fund its airdrop.

Continue reading on BTC Peers

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28-09-2021 05:44:07 (UTC+7)

EUR/USD

1.1697

+0.0003 (+0.03%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (2)

EUR/USD

1.1697

+0.0003 (+0.03%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (2)

GBP/USD

1.3704

+0.0008 (+0.06%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (1)

Sell (6)

USD/JPY

110.99

-0.01 (-0.01%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (3)

AUD/USD

0.7287

+0.0001 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

USD/CAD

1.2627

-0.0001 (-0.00%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (1)

EUR/JPY

129.82

+0.04 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

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EUR/CHF

1.0827

+0.0004 (+0.04%)

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↑ Sell

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Gold Futures

1,750.75

+0.90 (+0.05%)

Summary

↑ Buy

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Silver Futures

22.637

0.000 (0.00%)

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Copper Futures

4.2785

-0.0012 (-0.03%)

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↑ Sell

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Crude Oil WTI Futures

75.42

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↑ Sell

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Brent Oil Futures

78.62

+0.01 (+0.01%)

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↑ Buy

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Natural Gas Futures

5.912

+0.052 (+0.89%)

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US Coffee C Futures

194.98

+0.63 (+0.32%)

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↑ Buy

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Euro Stoxx 50

4,165.48

+6.97 (+0.17%)

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↑ Sell

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S&P 500

4,443.11

-12.37 (-0.28%)

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↑ Sell

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DAX

15,573.88

+42.13 (+0.27%)

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FTSE 100

7,063.40

+11.92 (+0.17%)

Summary

↑ Sell

Moving Avg:

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Buy (1)

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Hang Seng

24,208.78

+16.62 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,281.79

+33.71 (+1.50%)

Summary

↑ Sell

Moving Avg:

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Indicators:

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Sell (7)

IBEX 35

9,002.90

+129.80 (+1.46%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

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Buy (4)

Sell (2)

BASF SE NA O.N.

64.740

+1.040 (+1.63%)

Summary

↑ Sell

Moving Avg:

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Sell (11)

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Buy (1)

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Bayer AG NA

47.47

+0.99 (+2.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

196.19

+3.85 (+2.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

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Buy (6)

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Adidas AG

278.80

-2.77 (-0.98%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.561

+0.328 (+5.26%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

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Buy (7)

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Siemens AG Class N

147.27

-0.84 (-0.57%)

Summary

↑ Sell

Moving Avg:

Buy (1)

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Indicators:

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Deutsche Bank AG

11.120

+0.285 (+2.63%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1697Sell
 GBP/USD1.3704Neutral
 USD/JPY110.99Neutral
 AUD/USD0.7287↑ Sell
 USD/CAD1.2627Neutral
 EUR/JPY129.82Neutral
 EUR/CHF1.0827↑ Sell
 Gold1,750.75↑ Buy
 Silver22.637↑ Sell
 Copper4.2785↑ Sell
 Crude Oil WTI75.42↑ Sell
 Brent Oil78.62↑ Buy
 Natural Gas5.912Neutral
 US Coffee C194.98↑ Buy
 Euro Stoxx 504,165.48↑ Sell
 S&P 5004,443.11↑ Sell
 DAX15,573.88↑ Sell
 FTSE 1007,063.40↑ Sell
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,281.79↑ Sell
 IBEX 359,002.90Buy
 BASF64.740↑ Sell
 Bayer47.47↑ Buy
 Allianz196.19↑ Buy
 Adidas278.80↑ Sell
 Lufthansa6.561↑ Buy
 Siemens AG147.27↑ Sell
 Deutsche Bank AG11.120↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(0/ 0) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 28-09-2021 05:44:09
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ↀ Giá vàng thế giới
$1,751.05+1.550.09%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI$75.46+0.230.31%
Brent$78.60-0.59-0.76%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 18:54:42 27/09/2021
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