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Real Estate Backs Bitcoin

According to local media Novaya Gazeta, cafes, bars, restaurants, hotels, souvenir shops, and even plastic surgery clinics are accepting the password. Now, bitcoin transactions have expanded to the local real estate industry. Several companies selling land and houses in the Baltic region have introduced cryptocurrency payments in their businesses. Buy land and property.

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Bitcoin remains unregulated

At present, none of the Baltic countries has passed a complete cryptocurrency regulation bill. Recently, Latvia, which may partially recognize the legal status of cryptocurrencies for tax purposes, stated that Bitcoin can be used as a “means of exchange” and therefore will impose a 20% tax on capital gains from transactions using cryptocurrencies.

Estonia, one of the most digitalized countries in the Baltic region, has been considering issuing its own cryptocurrency. Estonian officials are actively pushing for the launch of an "estcoin" national digital currency, despite the European Central Bank's dissent over the country's approach.

Although Lithuania’s central bank previously seemed to be less supportive of cryptocurrencies, they are now trying to embrace the emerging technology and have begun consultations with cryptocurrency industry representatives to develop a comprehensive regulatory framework. Lietuvos Bankas, a senior official at the Central Bank of Lithuania, said:

"Blind denial, and an unwillingness to try to understand and work with the cryptocurrency industry, could be leaving us behind."