The Czech Republic has enacted a new law exempting crypto users from paying taxes on digital assets held for more than three years. This move was presented by President Petr Pavel, who signed the bill recently. Additionally, transactions involving amounts up to CZK 100,000 will also be tax-exempt, further fostering a favorable environment for cryptocurrency investments. The central bank of the Czech Republic is also considering the possibility of including bitcoin in its reserves, indicating a progressive shift towards integrating digital currencies into traditional financial systems. However, this initiative has faced criticism from European Central Bank President Christine Lagarde, as it raises questions regarding the approach of EU central banks toward cryptocurrency reserves. Overall, the legislation marks a significant step in the regulatory landscape for cryptocurrencies within the country, aiming to promote long-term investment and engagement with digital assets.

Source đź”—