Costa Rican congresswoman proposes bill to regulate, recognize cryptocurrency

Costa Rican Congresswoman Johana Obando proposed a bill titled “Cryptoassets Market Law (MECA),” to regulate and recognize cryptocurrency in the Central American country. Costa Rica to foreign investors and fintech companies as well as create job opportunities for Costa Ricans. The bill was proposed alongside Congressmen Luis Diego Vargas and Jorge Dengo, who also mentioned the government should not tax cryptocurrency profits generated from mining, but that profits from crypto trading should be taxed. Additionally, the bill aims to preserve individual virtual assets, self-custody of crypto assets.