Czech Republic: Bitcoin Tax Exempt, Bitcoin in Reserves Considered

Czech Republic Passes Crypto-Friendly Law, Exempts Bitcoin from Capital Gains Tax

The Czech Republic has passed legislation exempting Bitcoin and other digital assets from capital gains tax if held for more than three years. President Petr Pavel signed the law, aligning the country's crypto taxation with traditional securities. The tax exemption applies to individuals and non-business activities, eliminating previous tax disadvantages for long-term crypto investors. The amendment, set to take effect in mid-2025, brings the Czech Republic's regulatory framework in line with the European Union's Markets in Crypto-Assets rules.

Czech National Bank Considers Bitcoin for Reserves

The Czech National Bank is reviewing a proposal to add Bitcoin to its reserves, but the process may take months, and any exposure would be far lower than the initially suggested 5%. Governor Ales Michl introduced the idea, but European Central Bank President Christine Lagarde dismissed the proposal, emphasizing the need for liquidity and security in reserves. In response, the Czech National Bank commissioned a study to evaluate Bitcoin's feasibility, with Michl stating he would accept its findings, even if they reject the plan.

Tether and Reelly Tech Partner to Transform UAE Real Estate Transactions

Tether Operations Limited, the largest company in the digital asset industry, has signed a major Memorandum of Understanding (MoU) with Reelly Tech, a top real estate B2B platform in the UAE. This partnership enables over 30,000 local and international agents on Reelly Tech's platform to use USDT, improving processes and boosting efficiency in the region's fast-growing market. As part of the partnership, Tether and Reelly Tech will create an interactive educational series on Reelly Tech's platform, helping agents understand how stablecoins, like USDT, can transform property transactions, including secure and confident real estate purchases using USDT transfers.

Czech President Signs 'Landmark' Crypto Bill: CKMA

Czech President Petr Pavel has signed a "landmark" cryptocurrency legislation into law, providing Czechia with regulatory clarity on digital assets that are aligned with broader European Union laws. The new legislation simplifies crypto tax rules and implements the EU's Markets in Crypto-Assets (MiCA) regulation "in a way that supports innovation and development of the entire industry." After years of lobbying, the Czech Cryptocurrency