El Salvador President Nayib Bukele to Introduce Bill Eliminating Taxes on Technology Innovations

Nayib Bukele on Thursday night said he will be proposing a bill to El Salvador's congress eliminating all taxes on both software and hardware technology innovations.

It is unclear yet if this measure will extend to bitcoin (BTC) applications, but El Salvador and its president are known for being bitcoin-friendly, in 2021 becoming the first nation to make the crypto legal tender. The country's legislature earlier in 2023 passed a law paving the way for a bitcoin backed bond.

CoinDesk reached out to El Salvador's government for additional clarity.