Czech President Petr Pavel signed a bill Thursday, exempting crypto users from paying long-term earnings, a spokesman for the country’s finance ministry said on Thursday.
“The principle is that if the cryptoassets are held for more than three years, their sale will not be taxed or transactions up to 100,000 CZK [$4,136] Per year will not be obliged to appear in the tax declaration, similar to the securities, “said the spokesperson.
The Czech Republic of the law on the digitization of financial markets is now at the last stage of the legislation process and will take a week or two to be officially published. The country is a member of the European Union (EU).
A week ago, a proposal from the governor of the Czech National Bank, Aleš Michl, that the Central Bank plans to add additional assets, such as Bitcoin, to its reserves was approved by the Banking Council.
This decision was not well received by the president of the European Central Bank, Christine Lagarde, who said that she was confident that Bitcoin will not enter into the reserves of any of the central banks of the EU.
