With so much FUD going on in the cryptocurrency news scene right now, it's normal for everyone to be very scared; especially those who have put a certain amount of money into some cryptocurrency and have no idea when this cycle of great instability in the crypto market will end.
Some of lime and others of sand
But today, for a change, I come to you with positive news, one of those that we need to hear so much to take out the focus on the negative that is happening in the world around the economy and cryptocurrencies.
It turns out that the government of Venezuela, a country greatly affected by a major economic crisis, is encouraging the use of cryptocurrencies through its tax policy. To be more precise, the Venezuelan government is exempting from one of the most important taxes in the country, all those who use cryptocurrencies in their transactions. To be even more specific, the tax we are specifically talking about here is the Tax on Large Financial Transactions.
The news may seem barely relevant, but as I think I've said before, it's the kind of thing we need to focus on to keep our vision on the horizon and remain optimistic about the future of cryptocurrencies in general.
The news is relevant for Venezuela, and also for the world
Beyond all that has been said, and beyond the anguishing reality that that country is going through in the economic sphere, and beyond any opinion that I (or anyone) may have about the politics and management of Venezuela, I am sure that that this is a type of positive fundamental for btc and the entire crypto environment.
And this is so, not because Venezuela is a great power in terms of cryptocurrencies, but because through this action, the aforementioned South American country is setting a precedent that other presidents of other countries will surely also imitate in order to encourage growth of their economies.
Because let's think about it for a minute: If by doing transactions with cryptocurrencies you get rid of paying taxes, then all the entrepreneurs in those countries will want to invest in cryptocurrencies. And you know what this means, right? which is, if more money is coming into the cryptocurrency market because investors are buying cryptocurrencies; what will it happen?
Exactly, it will happen that the market capitalization of said cryptocurrencies will also increase, and the demand for cryptocurrencies will make their prices rise. So, good for Venezuela, with this interesting measure that it is taking; hopefully many more countries around the world will adopt it as well.
What did you think of my article? Do you consider it a relevant topic? If you have something to contribute about it, I invite you to leave it in the comments. Thank you.