Argentine Crypto Firm Sets up El Salvador Base to Side-step Fiscal Reporting Duties
The bitcoin (BTC)-keen El Salvador President Nayib Bukele has bet big on international crypto firms’ willingness to relocate to his country, opening the door for crypto companies to set up shop in the nation. And there are tentative signs that his much-hoped for crypto exodus has begun.
As regulatory pressure on crypto firms continues to rise in locations around the world, Bukele appears to be prepared to offer companies a safe space in which to operate without the threat of constantly moving regulatory goalposts. This appears to be his thinking behind the Bitcoin City project, which promises to fast-track residency permits for internationals and withhold all forms of tax except for a VAT charge on sales.
And it looks like Bukele has his very
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