Tax Commissioner of Próspera, Jorge Colindres, has stated that this change expands economic freedom for the residents of the region.
In Próspera, a special economic zone on the island of Roatan in Honduras, #bitcoin was recently recognized as an accounting unit, allowing its use for valuing goods and services. This decision comes less than two years after the introduction of bitcoin as an official currency in the zone.
 Jorge Colindres, the acting manager and tax commissioner of the Próspera Zone for Employment and Economic Development (ZEDE), announced this move on January 5th. On January 7th, on the social network X (formerly Twitter), Colindres explained that the goal is to provide greater financial freedom to the residents and businesses in the area.

 
"In @ProsperaZEDE, we support financial and monetary freedom. People should have the freedom to choose the currency for transactions, accounting, and tax reporting," Colindres stated. He mentioned that bitcoin can now serve as a monetary unit for valuing goods and services in Próspera.
 However, Colindres emphasized that currently taxes cannot be paid directly in bitcoin due to technological and regulatory limitations. For now, tax liabilities in bitcoin will be converted into US dollars or Honduran lempira for reporting to Próspera ZEDE.
 Colindres added that once the issues are resolved, it will be possible to report and pay tax liabilities directly in bitcoin. Entities wishing to use bitcoin as an accounting unit must inform the Próspera tax commission within 30 days of the respective tax period and refer to an approved cryptocurrency exchange, such as Coinbase or Kraken.
Próspera ZEDE was established in May 2020 and has become one of the main economic zones in the region. In April 2022, it adopted bitcoin as its official currency, shortly after the neighboring country El Salvador did the same in September 2021. Colindres described Próspera ZEDE as one of the most competitive special regimes in Latin America, which, in its three years of operation, attracted investments exceeding 100 million dollars and created more than 3,000 jobs.
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 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Introduction:

BlackRock, the world’s largest asset management firm, has been making waves in the financial industry with its vast size, influence, and recent plans regarding Bitcoin exchange-traded funds (ETFs). With trillions of dollars under its management, BlackRock’s moves are closely watched and can significantly impact the markets. In this article, we delve into BlackRock’s size, its core activities, and explore its recent developments in the realm of Bitcoin ETFs.

The Size and Influence of BlackRock:

BlackRock’s prominence in the financial world is nothing short of remarkable. With over $9 trillion in assets under management (as of the knowledge cutoff in September 2021), BlackRock wields immense power when it comes to investing and influencing global markets. The firm’s reach extends across various asset classes, including equities, fixed income, alternatives, and more.

Core Activities:

BlackRock’s primary mission is to help individuals and institutions build better financial futures. The firm offers a wide range of investment products and solutions tailored to the diverse needs of its clients. BlackRock’s expertise lies in strategic investment management, risk management, and innovative technology-driven solutions. Through its extensive network, BlackRock provides investment management services to institutional investors, financial advisors, and individual investors worldwide.

BlackRock’s Recent Plans for Bitcoin ETFs:

In recent times, BlackRock has shown a growing interest in cryptocurrencies, particularly Bitcoin. In March 2021, the firm’s CEO, Larry Fink, acknowledged that Bitcoin could become a global market asset and that BlackRock was exploring ways to incorporate digital currencies into its investment strategies. Since then, BlackRock has been actively exploring the potential for Bitcoin ETFs.

An exchange-traded fund (ETF) is a type of investment fund that trades on stock exchanges, representing a basket of assets such as stocks, bonds, or commodities. A Bitcoin ETF would allow investors to gain exposure to Bitcoin without directly owning the cryptocurrency itself. BlackRock has been considering the launch of a Bitcoin ETF, which could open up a new avenue for investors to participate in the growing cryptocurrency market.

BlackRock’s approach to Bitcoin ETFs seems to be cautious and methodical. The firm understands the need for a robust regulatory framework and investor protections before diving into the Bitcoin ETF space. While there have been no official announcements of a BlackRock Bitcoin ETF at the time of writing (June 2023), market watchers continue to anticipate the firm’s entry into the cryptocurrency market.

Conclusion:

BlackRock’s sheer size and influence make it a key player in the global financial landscape. As the world becomes increasingly interested in cryptocurrencies, BlackRock has been actively exploring the potential for Bitcoin ETFs. While the firm’s plans are still in the works, the launch of a BlackRock Bitcoin ETF could pave the way for increased institutional participation and provide investors with a regulated avenue to access the evolving cryptocurrency market. As developments unfold, the industry eagerly awaits BlackRock’s next move, which could have a significant impact on the broader adoption and acceptance of cryptocurrencies.#BinanceTournament #pepe #googleai #BRC20 #btcetf