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Less than two years after adopting Bitcoin (BTC) as legal tender, Próspera, a special economic zone in Roatan, Honduras, has taken a significant step by officially recognizing Bitcoin as a unit of account. This means that Bitcoin can now be utilized to measure the market value of goods and services within the Próspera zone.

The initiative, led by Jorge Colindres, the acting manager and tax commissioner of Próspera Zone for Employment and Economic Development (ZEDE), was implemented on January 5. This development allows BTC to serve as a monetary unit for evaluating the market value of various goods and services in the Próspera zone.

While the “Final BTC Tax Payment Procedure” cannot be implemented immediately due to technological constraints in the eGovernance system and external regulatory issues, entities choosing Bitcoin for tax liabilities will currently determine them with reference to BTC for internal accounting. However, these liabilities will be reported to Próspera ZEDE in United States dollars or the Honduras lempira.

Once these challenges are resolved, entities will be able to report tax liabilities and make corresponding payments to Próspera ZEDE in BTC. To make BTC its unit of account, interested parties must file a notice with Próspera’s tax commission within 30 days of the relevant tax period.

Próspera ZEDE, launched in May 2020 on the northern island of Roatan, has positioned itself as one of the “most competitive special regimes” in Latin America. Colindres highlighted its achievements, noting that it has attracted over $100 million in its three-year tenure and generated more than 3,000 jobs across the country. This move further solidifies the region’s commitment to expanding financial and monetary freedom for individuals within the Próspera zone.

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