El Salvador President: No Capital Gains Tax On Bitcoin, Users Will Get Assistance In Relocating To The Nation

Nayib Bukele, the president of El Salvador recently mentioned that he wants to assist entrepreneurs accept El Salvador as a base, with Bitcoin set free from capital gains tax.

The nation’s president has said that BTC hodlers who are looking to earn Bitcoin tax-free will get assistance to stay in El Salvador.

In a recent tweet, Bukele mentioned that his government would assist settle foreign workers. Interestingly, the announcement is one of many that keep on coming informally from the President, who has now become popular for trying to put El Salvador on a form of “Bitcoin standard.”

In the intervening period, El Salvador’s plan has hitherto seen Paraguay make an analogous move.

Apropos the development, podcast host Preston Pysh responded,

“Now Paraguay? The sovereign level game theory is starting to take shape just like many have been talking about for years.”

However, criticism mixed with concern for El Salvador, has been coming from various individuals. The political structure of the nation has distressed some, while others are of the opinion that there would be international fallout over a Bitcoin standard.