El Salvador, the first country to recognize Bitcoin as their legal tender, removes taxes associated with technological innovation. President Nayib Bukele, on September 7th 2021, legalized Bitcoin as a tool to fight against hyperinflation and dependence on the dollar. Over the next 18 months, the country revalued its Bitcoin investments and used these capital gains to rebuild several segments of the country.
Bukele is now pushing for a law to simplify tax regulations to accelerate technological progress. On April 1, he introduced a bill that would eliminate income, property, and capital gains taxes for technological innovation, including software development, coding, and app creation.
Support for this initiative also lies in the establishment of the Bitcoin Office, a regulatory institution for cooperation with bitcoin companies and entrepreneurs. According to the Bitcoin Association of El Salvador, ONBTC aims to "position the country in the world as a technological and economic power."
The European Banking Federation shares its vision for digital money
The European Banking Federation (EBF) presented its vision of a digital financial ecosystem. This ecosystem would consist of three elements: a digital euro, a wholesale central bank digital currency (wCBDC), and bank tokens.
In the report, the EBF focuses on important values such as stability, privacy and emphasizes that digital euros should be secured against cyber threats and fraud. At the same time, the elements of wCBDC include the possibility of its exchange with other digital currencies and payment systems. In the end, the proposed banking tokens will improve the efficiency of transaction processes and increase the performance of the banking sector.
The EBF recognizes that this new financial ecosystem will require close collaboration between the private and public sectors to ensure its successful implementation. With this vision and goals, the EBF becomes another representative to create a digital financial environment that could bring significant changes in the field of payment systems and financial markets in Europe.
After changing the iconic Twitter logo to DOGE, the price of this cryptocurrency increased by more than 30%
The price of Dogecoin reached a four-month high, with Elon Musk and Twitter again at the center of attention. This happened after Twitter changed its official logo of the blue bird to the symbol of Dogecoin, a dog of the Shiba Inu breed. Although this may seem like a late April joke, Musk has raised the value of Dogecoin by more than 30%.
This billionaire, nicknamed “Dogefather,” has proven to have influenced the Dogecoin market over the years with his mysterious tweets. Among other things, he has already discussed the possibility of adding DOGE as a payment option for Twitter subscription services. His other companies, Tesla and SpaceX, are already accepting DOGE to buy their promotional and marketing products.
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