The Central Bank of Honduras, amid growing adoption of cryptocurrencies, reminded citizens of the impossibility of protecting them from crypto scammers due to the lack of a law regulating cryptocurrencies.
The regulator has warned investors that digital assets are subject to high levels of volatility. The Central Bank is confident that such assets can depreciate sharply, as happened recently, when bitcoin lost more than 60% of its value. The Central Bank criticizes the use of these instruments as a payment method:
“Any transaction made with them will be at the responsibility and risk of the person who carries it out.”
The regulator recalled that, in accordance with the national legislation of Honduras, the only institution authorized to issue any money and guarantee the efficiency of the payment system is the Central Bank. Cryptocurrencies in Honduras are not officially recognized in any piece of legislation and do not enjoy the protection provided by the national government. The reaction of the authorities of Honduras is associated with the growing popularity of cryptocurrency in the country.
Prospera is an economic zone in Honduras that has adopted bitcoin as legal tender and allows citizens within its borders to pay taxes with BTC and exempt them from paying capital gains tax when using bitcoin.
Recently, in the Honduran resort town of Santa Lucia, a new attraction appeared – Bitcoin Valley – cafes, shops and companies unanimously announced the acceptance of cryptocurrencies to pay for their goods and services. However, throughout the rest of the country, bitcoin as legal tender does not work, officials remind.
Source: Bits
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