DAILY NEWS: El Salvador using Bitcoin to draw foreign investments

Recent reports reveal that the nation is set to set to exempt foreign investors from all forms of capital gains and income tax related to Bitcoin.

The move comes days after it made BTC legal tender.

In order to do this, he stated that all Bitcoin transactions on the country's official BTC wallet, Chivo, will be actively tracked.

"There will be no taxes to pay on either the capital increase or the income," the report noted.

The report further adds that some a series of recommendations from international institutions against money laundering will also be implemented.

The remittance based nation seems to be looking to take its Bitcoin usage up a notch with new policies that foster growth.

https://twitter.com/CoinsbitIndia/status/1437699960900706306?s=20

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