The Government of Bermuda has passed a law according to which cryptocurrency tax payments in Bermuda has become possible. This jurisdiction was one of the first countries to legalize this method of paying taxes. Circle cryptocurrency has become the first virtual currency that government agencies will accept.
This step is due to a loyal attitude to cryptocurrencies, and to cryptocompanies in general. It should also be noted that the stablecoin USDC is pegged to the dollar from a 1: 1 ratio. Thus, we observe how the state pursues an intensive policy of decentralization of the country’s monetary system, which will definitely stimulate the business, in particular, cryptocurrency, to move to Bermuda.
It is important to note that Circle stablecoin is one of the most famous cryptocurrency assets of this type in the world, and its capitalization is $ 478 million.
Our company Cyworld Wealth offers services for cryptocurrency companies that plan to operate in Bermuda. The lawyers of the company will help you choose the appropriate type of legal entity, register with the regulatory authorities, choose the appropriate tax system and represent your interests in case of problems with the regulatory authorities.
We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.