Johana Obando, a congresswoman from the Central American country of Costa Rica, has introduced a bill to Congress asking the government to regulate the crypto market and reduce taxes on cryptocurrencies, making Costa Rica a crypto-friendly country.

The bill proposes that the Costa Rican government recognize cryptocurrencies and allow people to hold, freely trade and spend cryptocurrencies.

Johana Obando mentioned on her official Twitter that the Crypto Assets Market Law (MECA) “will protect individual virtual private property, self-custody and decentralization of crypto assets” from the country’s central bank, but in “perfect harmony” with it.

Johana Obando, along with members of Congress Luis Diego Vargas and Jorge Dengo, proposed that Costa Rican citizens should not pay taxes on goods purchased with cryptocurrencies, and the government should not tax cryptocurrencies generated from them. miningbut that profits from cryptocurrency trading would be subject to income tax.

Obando said the move would attract foreign investors and fintech companies and create jobs for Costa Rican citizens.

As cryptocurrencies continue to gain popularity around the world, many countries have placed a heavy emphasis on cryptocurrencies.

Costa Rica is also among the countries with the highest acceptance of cryptocurrencies.

In 2018, according to the law of the country, in Costa Rica, part of an employee’s salary can be paid in cryptocurrencies, and salaries can be paid not only in fiat currency but also in basic products. Some legal experts believe that cryptocurrencies are suitable for this category.

In addition, Costa Rican law provides for the use of generally accepted goods as a means of payment.

The country’s labor code allows workers to receive part of their salary in cryptocurrency. They can also negotiate with employers the amount of crypto they want to receive.

Unlike El Salvador, which uses bitcoin as legal tender, the bill proposes to introduce cryptocurrencies as private virtual currencies that can be used and circulate freely but not as national legal tender.

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