El Salvador to Not Collect Capital Gains from Bitcoin Earnings, Offers Crypto Entrepreneurs Permanent Residence
Nayib Bukele, President of the Republic of El Salvador, made some interesting remarks yesterday on Twitter, where he answered some of the concerns and questions of people involved in the cryptocurrency business.  The young politician has put the country in the media spotlight after appearing at the 2021 Bitcoin Conference in Miami, announcing that he will introduce legislation to make Bitcoin payment instruments legal in the country.
Bukele stated that since Bitcoin would be a legal tender, there would be no capital tax advantage for Bitcoin revenue, something that would attract cryptocurrency entrepreneurs and traders to bring their business into the country.  In response, Tron founder Justin Sun stated his organization would be the first crypto group to set up an office in El Salvador.