Financial operations for crypto companies have been simplified in Czech Republic

A law has been passed in the Czech Republic that simplifies financial operations for crypto companies and introduces a tax exemption for digital currency holders. This is reported by the DL News portal.

Now, cryptocurrency companies and investors have the full right to open bank accounts. The parliament has also abolished the capital gains tax on Bitcoin if the asset has been held for more than three years. The same rules are already applied to traditional financial instruments, such as stocks.

Jan Skopěček, the Deputy Speaker of the Chamber of Deputies of the Czech Republic, praised the potential of local innovative companies in the fields of cryptocurrency and blockchain.

Skopěček wrote on social media that this is a step in the right direction that modernizes our economy and can attract entrepreneurs from around the world to the Czech Republic.