Binance may increase its workforce in El Salvador following President Nayib Bukele’s plans to waive taxes for tech-related ventures. CEO Changpeng Zhao assured that they will “do more.”
Read CRYPTONEWSLAND onAs seen in the tweet above, Binance’s operations in El Salvador compose of 60 customer support staff and nothing more. Currently, some of the global exchange’s operations are in at least 10 countries including its headquarters, which is in the Cayman Islands, as well as in Dubai, UAE; Singapore, Canada, Australia, and more.
If President Bukele’s bill passes into law, it would mean that tech companies will enjoy all profits earned as well as lessen their operating expenses from zero import tariffs. Many countries, including crypto firms from the US, will be enticed to relocate to El Salvador.
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 8, and more.
Despite the latter not being in troubled legal waters compared to Coinbase, Ripple, and Kraken, they are still subject to discrimination due to energy-hungry BTC mining operations.
Analysts see hope as #XRP hits a possible bottom against #Bitcoin. 💰 Projections hint at…
#Cardano's battle for a bullish reversal intensifies as it confronts a make-or-break resistance at $0.47.…
H.J. Res. 109 faces potential veto over SEC rule SAB 121, sparking debate over financial…
The analyst who correctly called Bitcoin's all-time high is now predicting a significant surge for…
This year has seen a surge in market growth, pointing to a selection of cryptocurrencies…
Giorgio Zinetti named the new CTO of Cardano, set to enhance its blockchain technology and…