David - Cryptocurrency Enthusiast
Manufacturing of computing and communications devices as well as software programming, coding, apps, and artificial intelligence will not be subject to taxes in El Salvador.
El Salvador, the first nation to recognize trusted Bitcoin as tender, has made the decision to remove all taxes on technological advancements. In parallel, the National Bitcoin Office (ONBTC) of El Salvador, also referred to as "the Bitcoin office," is being established.
President Nayib Bukele of El Salvador saw the technology to combat hyperinflation and reliance on the US dollar when he legalised Bitcoin on September 7, 2021. El Salvador has reorganized its Bitcoin investment over the last 18 months and has used capital profits on numerous occasions to rebuild the country.
Bukele believes that reducing tax obligations would hasten technical advancement. As promised, Bukele delivered a measure to Congress on April 1 that would effectively do away with all income, property, and capital gains taxes on advancements in technology.
The Bitcoin office, a regulatory organization for carrying out cooperative efforts with Bitcoin entrepreneurs and companies, was established to support this ambition. The goal of ONBTC is to place El Salvador in the world as a technological and economic force.
Bukele's continued initiatives to remake El Salvador also include promoting tourism, fighting terrorism, and creating regional commercial hubs in addition to his attempt at a financial comeback.
At the start of 2023, El Salvador adopted legislation that set forth the guidelines for Volcano Bonds, bonds backed by Bitcoin.
The name "Volcano Bonds" refers to the area where Bitcoin City is situated, which is slated to develop into a center for renewable cryptocurrency mining fuelled by hydrothermal energy from the nearby Conchagua volcano.
To buy Bitcoin online first you need to find a reliable Bitcoin broker. You can do that by visiting one of the more popular brokerage websites – BCBitcoin. BCBitcoin will help you to buy and sell cryptocurrency and participate in tech innovations market similarly as El Salvador.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards