In Roatan, Honduras, the special economic zone of Próspera has officially adopted Bitcoin (BTC) as a unit of measurement for assessing the value of goods and services. Jorge Colindres, overseeing Próspera ZEDE, led this initiative, aiming to expand financial autonomy for businesses and individuals operating within the zone.
Colindres emphasized the importance of financial freedom, stating that at PrósperaZEDE, people should have the liberty to conduct transactions, manage accounting, and report taxes in the currency of their choice.
This development allows Próspera’s businesses and individuals to value goods and services using BTC, providing an alternative to the Honduran lempira and the US dollar. However, technological constraints and external regulatory issues currently prevent the immediate implementation of the “Final BTC Tax Payment Procedure” at Próspera.
For now, entities opting for Bitcoin will measure tax liabilities internally using BTC but report them to Próspera ZEDE in US dollars or Honduran lempira. Once these issues are resolved, they’ll be able to report tax liabilities and pay them directly to Próspera ZEDE in BTC.
Businesses and individuals seeking to use BTC as a unit of account must inform Próspera’s tax commission within 30 days of the relevant tax period and reference an approved cryptocurrency exchange like Coinbase or Kraken.
Established in 2020 and designated a special economic zone in 2022, Próspera ZEDE joined El Salvador in legalizing BTC as a form of currency in the same year, following El Salvador’s decision in 2021.
