🇨🇿 MEDIA: Czech Republic exempts cryptocurrency holders from profit tax
President of the Czech Republic Petr Pavel signed a law exempting cryptocurrency investors from capital gains tax when holding digital assets for more than three years. This was reported by Bitcoin Magazine.
The bill was passed by the Chamber of Deputies last week and became part of the implementation of the EU regulation on Markets in Crypto-Assets (MiCA).
According to the new law, Czech investors are also not required to report cryptocurrency transactions in tax declarations if their annual volume does not exceed 100,000 crowns (about $4,200). These measures are aimed at stimulating the development of digital assets and simplifying tax reporting.
The innovations received support from the local crypto community. Its representatives believe that a more favorable tax regime will accelerate the spread of digital assets in the Czech Republic. In addition, the law prohibits banks from refusing service to virtual asset service providers (VASP), which previously hindered the operations of such companies.
#BERAonBinance #USJoblessClaimsRise #BitcoinWhaleMove #AICrashOrComeback #USBitcoinReserves
