Czech President Petr Pavel has signed groundbreaking cryptocurrency legislation into law, bringing regulatory clarity on digital assets in line with the European Union's Markets in Crypto-Assets (MiCA) regulations that took effect on December 30. The newly signed law simplifies crypto tax rules and is designed to foster innovation within the industry. The Czech Cryptocurrency Association (CKMA) played a significant role in drafting the legislation, which reflects a shift in perception towards crypto among lawmakers. Additionally, the Czech National Bank's head, Aleš Michl, has suggested possibly including Bitcoin in the country’s foreign reserves, indicating a growing acceptance of cryptocurrencies at the national level. Michl aims to diversify reserves into assets that show zero correlation with traditional bonds, viewing Bitcoin as an attractive option due to its non-correlated nature. While the central bank is still evaluating new asset classes for diversification, the potential for Bitcoin investment marks a significant step in Czechia's financial approach to digital currencies.

Source 🔗