Czech lawmakers have approved a groundbreaking tax reform exempting bitcoin and other digital assets from capital gains tax if held for over three years, effective Jan. 1, 2025. Additionally, annual crypto income below CZK 100,000 ($4,000) will be tax-free. Prime Minister Petr Fiala highlighted the policy as a move to simplify taxation, promote long-term holding strategies, and support technological innovation. The exemption also applies retroactively to digital assets acquired before 2025 if sold under specific conditions. These changes align with the European Union’s Markets in Crypto-Assets (MiCA) framework, set to standardize cryptocurrency regulations across the bloc by Dec. 30, 2024. This reform places the Czech Republic alongside Switzerland and the UAE in offering favorable tax policies for long-term crypto investors.
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