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Bitcoin Becomes an Official Unit of Account in Prospera, Honduras

Published 01/08/2024, 08:14 PM
Updated 01/08/2024, 08:15 PM
© Reuters Bitcoin Becomes an Official Unit of Account in Prospera, Honduras
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  • Prospera announced recognition of Bitcoin as a unit of account.

  • Residents of Prospera can use Bitcoin as a unit of account after fulfilling the requirements of a specified Binding Practice Note.

  • Prospera adopted Bitcoin as a legal tender in April 2022.

Prospera, a special economic zone in Roatan, Honduras, has recognized Bitcoin as a unit of account. The regional government announced the decision via a press release by Prospera ZEDE (Zone for Employment and Economic Development) on January 5, 2024. According to the announcement, residents of the zone can use Bitcoin as a unit of account after fulfilling the requirements of a specified Binding Practice Note.

Following the development, Jorge Colindres, the acting manager and tax commissioner of Próspera ZEDE, noted that people should be free to carry out transactions, do their accounting, and report taxes in the currency of their free choice. In a post on X (formerly Twitter), the commissioner highlighted Prospera ZEDE’s belief in the right to financial and monetary freedom.

Colindres further noted that the constitution empowers ZEDE autonomously to make such decisions. Hence, they have brought more than …

The post Bitcoin Becomes an Official Unit of Account in Prospera, Honduras appeared first on Coin Edition.

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