Bitcoin is slowly becoming more and more mainstream, and with that it has opened itself up for a whole new class of users and companies. Bitquick, Inc., a Bitcoin-focused company based in Atlanta, Georgia, announced on their blog that they would be opening a Bitcoin Center of Excellence in El Salvador to help find new opportunities for people who use the cryptocurrency.
a few months ago, I wrote about how I’m moving back to El Salvador. The story was picked up by Vice, Reddit, The Verge, and other media outlets, and in the last few days I’ve had a lot of questions about what the future holds for bitcoin users in the Central American country.
I know this might be a stretch, but I think there is a good possibility that Bitcoin could be legalized in El Salvador by next year.Bitcoin traders (BTC) who want to earn BTC without paying taxes will get help to stay in El Salvador, the country’s president said. In a tweet on Monday, President Nayib Bukele said his government would assist in the resettlement of foreign workers.
El Salvador: We help you
The announcement is one of many that continue to go unofficially from Mr. Buquetele, who is now known for his efforts to get El Salvador into the bitcoin standard. At the Bitcoin 2021 conference in Miami last week, he told the audience in a pre-recorded video message that he would send lawmakers a bill to make bitcoin legal tender. Welcome to the future of #Bitcoin pic.twitter.com/j30vcZVXvJ – Nayib Bukele (@nayibbukele) June 5, 2021 Now, Bukele has hinted through social media interactions with crypto-currency figures that those willing to work in El Salvador will receive official support. Once bitcoin becomes legal tender, the income it generates will not be subject to capital gains tax. We’ll help, he replied, discussing the issue with podcast host Stephen Livera. Do you have bitcoins? You’re a native of El Salvador, I’m kaygo anytime … https://t.co/drpnIQ1lAj – MARCIANOTECH (@MARCIANOPHONE) 6. June 2021 Another tweet promised immediate permanent residency for crypto entrepreneurs, piquing the interest of Tron CEO Justin Sun and Binance CEO Changpeng Zhao, among others.
Latin America accepts bitcoin
According to Cointelegraph, El Salvador’s plan has now forced Paraguay to take a similar step. Similarly, a congressman used Twitter as a platform to reveal the government’s still unofficial plans, suggesting that Asuncion would soon announce a deal with PayPal. This was also very well received. Paraguay now? Sovereign game theory is starting to take shape, as many have been saying for years, replied podcast host Preston Pysch. However, the criticism was accompanied by a concern for El Salvador. Some are concerned about the political structure of the country, while others believe that the Bitcoin standard will trigger an international reaction. However, Bukele has already promised to rise above outside pressure. Some powerful interests will try to derail this historic #Bitcoin movement, he wrote. They know what it means when they succeed. That’ll be it. Plan B Passport, a specialist service that helps bitcoin holders move to more attractive jurisdictions such as Portugal, has yet to add El Salvador to its list of destinations.On Friday, the President of El Salvador, Salvador Sanchez Ceren, announced that the country will set up a special program to help cryptocurrency investors and cryptocurrency users who want to relocate to El Salvador. According to Salvador, the country plans to provide the assistance with help from the International Monetary Fund. In 2018, the country saw an increase in people moving to El Salvador in order to take advantage of the country’s low-cost of living. Since March of this year, the country has seen the number of migrants increase by an average of 500 people per month.. Read more about u.s. cuts aid to el salvador and let us know what you think.
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