When Bitcoin became legal tender in El Salvador, it was removed from taxation (exempt from capital gains taxes or even income taxes when paid in it). This set a beautiful standard that Mexico is considering, & Portugal has already partially implemented but without the "legal tender" part. QUESTION:

Question: Now that states (California) & cities (Lugano) are considering or officially announcing (respectively) adoption of Bitcoin as a legal tender, will there be tax advantages in those areas, either to businesses or to individuals?

I'm happy for the positive headlines, but is there anything of real substance happening in those areas?

Adoption as legal tender in a country (or exemption from capital gains taxation as in Portugal) is huge news & will encourage people to move & invest there.

But adoption as legal tender in a city or state... Might some vendors actually feel inconvenienced for being forced [edit: encouraged] to accept a currency that is still a pain in the ass taxation-wise?

submitted by /u/Dependent-Army4891
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