Czech President Signs Bill Exempting Long-Term Crypto Gains from Taxes

Czech President Petr Pavel signed a bill exempting crypto users from taxes on long-term gains. Key points include:

Cryptoassets held for over three years are not taxed upon sale.
Transactions up to CZK 100,000 (approximately $4,136) per year do not require reporting in tax declarations.
The Digitalization of the Financial Markets Act is nearing official publication.

The Czech Republic is an EU member. Recently, a proposal for the Czech National Bank to consider adding assets like bitcoin to its reserves was approved, but faced criticism from European Central Bank President Christine Lagarde, who stated that bitcoin would not be included in EU central bank reserves.