El Salvador’s President Signs Law Abolishing Tax on Technological Innovation

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Today’s Cryptocurrency Headline

El Salvador’s President Nayib Bukele announced on Twitter yesterday that he has signed a law that eliminates taxes on technological innovation. The law called the “Innovation and Technology Manufacturing Incentive Law,” removes all taxes related to technological innovation, software and application programming, artificial intelligence, computer and communication hardware manufacturing, including income, property, capital gains, and import tariffs.

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The price of BTC experienced a volatile month, with an initial climb to a peak of 💲31,000 followed by a period of consolidation before a subsequent decline. This saw significant fluctuations and led to many traders suffering losses. BTC‘s price has since entered a period of sideways movement, with some short-term bullish signals indicating a possible move toward a target range of 💲29,500-30,000. However, the market awaits the release of the latest unemployment data for further guidance.

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