Honduras Recognizes Bitcoin as a Unit of Account

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The economic zone of Próspera in Honduras has officially adopted Bitcoin as a unit of account.

This means that both businesses and the general public can now set prices for goods and services using the digital currency.

According to Jorge Colindres, the tax commissioner for the jurisdiction, this move will promote financial freedom for individuals and businesses in the region.

However, the current e-government system and external regulatory hurdles prevent residents from paying taxes in Bitcoin at the moment.

As a result, taxes must still be settled in US dollars or Honduran lempira. Próspera, which is considered a charter city, is located on the island of Roatán and has its own private government, fiscal, regulatory, and legal systems.

In April 2022, the economic zone officially recognized Bitcoin and other cryptocurrencies as legal tender, and the municipality of Santa Lucia in Honduras also integrated digital gold payments to attract tourists from around the world.