Binance CEO Changpeng Zhao said they are planning to increase their workforce in El Salvador following President Bukele’s announcement.
Highlights
- President Nayib Bukele will submit a bill that will waive all taxes for tech-related profits and operations.
- US-based crypto firms may become enticed to relocate to El Salvador.
- Binance’s operations in El Salvador compose of 60 customer support staff and nothing more.
- CEO Changpeng Zhao assured that they will “do more” following the president’�s recent announcement.
- The bill would mean that tech companies will enjoy all profits earned as well as lessen their operating expenses from zero import tariffs.
- notable crypto companies that are still operating in the US include exchanges Coinbase and Kraken, fintech firm Ripple, and bitcoin mining companies Marathon, Riot, Canaan, Hut
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El Salvador To Build A Tax-Free Paradise For AI Development And Bitcoin