Honduran City of Prospera Adopts Bitcoin as Unit of Account



The city of Prospera in Honduras has recently adopted bitcoin as a unit of account, allowing companies to pay taxes and determine obligations in bitcoin. The measure could incentivize the development of a circular economy, given that bitcoin has been legal tender in the city since 2022.

Prospera Adopts Bitcoin as Unit of Account

The city of Propera has taken the first steps for the development of a pure bitcoin-based economy. The zone announced it approved using bitcoin as a unit of account on January 5, allowing for prices and taxes to be denominated and paid using bitcoin.

Jorge Colindres, General Secretary of Prospera, supported this decision. He stated:

At Prospera, we believe in the right to financial freedom and monetary freedom. People should be free to carry out transactions, do their accounting, and report taxes in the currency of their free choice.

Adopting BTC as a unit of account brings possibilities for establishing a bitcoin circular economy in the city, given that BTC has been approved as a legal tender since 2022. In this sense, the city declared that this move “presents an exciting opportunity for residents and businesses at Prospera, paving the way for a modern, efficient economic ecosystem in this pioneering city.”

However, the payment of taxes with BTC is still on hold due to external regulatory issues and technical limitations involving the adopted electronic tax payment system. This means that tax duties will be declared in BTC but will be reported to authorities in U.S. dollars or Honduran lempiras.

While at one time there were rumors about Honduras adopting bitcoin as legal tender in 2022, the central bank of the country quickly put the rumors to rest, stating that it was not a regulated currency and had no status of legal tender, later warning on the dangers of cryptocurrencies due to the rising popularity of these assets.

Nonetheless, Prospera has self-regulation faculties under the Development and Employment Zone (ZEDE) designation, allowing it to make independent decisions. This, however, has spurred criticism from part of the Honduran society that considers the existence of these zones a violation of its constitution and sovereignty over the territories they occupy.

Source : Bitcoin News by Sergio Goschenko / Jan 9, 2024

rayn.finance logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.