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Czech approves Bitcoin tax exemption for long-term holders

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Czech Republic president Petr Pavel has signed a bill that exempts Bitcoin and other digital assets from capital gains tax after three years. According to a local news report, the move now removes some of the tax challenges facing crypto holders in the country.
The Czech Republic has introduced a new tax policy that exempts long-term holders of Bitcoin from paying taxes on their gains. This decision was made to encourage investment in cryptocurrencies by reducing the tax burden on investors who hold their assets for more than a year. Previously, profits from cryptocurrency were subject to a 15% capital gains tax. The new legislation aims to make the Czech Republic more attractive to crypto investors by aligning its tax policies with those of other crypto-friendly jurisdictions. This move is part of a broader trend where countries are adjusting their fiscal policies to accommodate the growing interest in digital currencies.

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[ https://www.msn.com/en-us/money/other/czech-approves-bitcoin-tax-exemption-for-long-term-holders/ar-AA1yyf8s ]