The Czech Republic has made a significant move by signing a new bill that exempts Bitcoin from capital gains tax if held for at least three years. Signed by President Petr Pavel on February 6, the bill was approved unanimously by the parliament in December 2024. This new law reduces tax burdens on crypto investors, especially for small transactions under 100,000 koruna (around $3,900). It aims to boost cryptocurrency adoption and attract crypto-related businesses to the country. Long-term Bitcoin holders will now benefit from tax-free gains, encouraging them to see Bitcoin as an investment rather than a quick flip. The Czech National Bank is also exploring the idea of adding Bitcoin to its reserves, a move that could further solidify the country’s position in the global crypto market.
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