Foreign Bitcoin Investors Will Be Exempted From Taxes in El Salvador
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13 September
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El Salvador's authorities will exempt foreign investors from the capital gains tax, the president's legal advisor Javier Argueta has said. He stated:

"The move is aimed at attracting foreign investment."

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The authorities intend to fight the use of Bitcoin in illegal activities. To that end, according to Argueta, a mechanism to track payments has been integrated into the cryptocurrency wallet Chivo. He has added:

"We are implementing a series of recommendations from international organizations to fight money laundering."

Argueta has also pointed out the possibility of suspending Bitcoin transactions in the event of a sharp drop in its price. This will reduce the negative consequences of the use of cryptos as a means of payment.

Last September 7 a law that recognizes Bitcoin as legal tender came into force in El Salvador.

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