(Beincrypto) El Salvador’s government is exempting foreign investors from paying taxes on bitcoin profits in a bid to attract them.
The legal advisor to the president of El Salvador, Javier Argueta, said that the country was collaborating with global agencies to ensure full compliance in dealing with the currency.
El Salvador launched the Chivo Wallet, an official bitcoin wallet, on September 7. The government purchased 400 bitcoins and awarded $30 of the currency to first-time users.
The adoption of bitcoin as a legal tender in the country has received criticism, with some citizens taking to the streets over volatility concerns and the inefficiencies at the ATMs.
BTCUSD is down -3.43%.
