In a groundbreaking move for the Czech travel industry, Letuška.cz has announced plans to accept Bitcoin payments for airline tickets in the first half of next year. This initiative comes in response to growing customer interest in alternative payment methods and upcoming financial market digitalization legislation.
The new legislation will offer significant benefits to cryptocurrency holders, including tax exemptions on sales after three years of holding, similar to stocks. Additionally, smaller transactions up to 100,000 Czech crowns will not need to be reported on tax returns.
“Following these regulatory changes, we expect virtual currency transactions to become much more mainstream, attracting those who have been hesitating to enter the cryptocurrency market,” explains Josef Trejbal, director of Letuška.cz. The platform will accept Bitcoin payments for airline tickets, travel insurance, and other services.
While other major players in the Czech travel market, including Pelikán, Student Agency Travel, and Kiwi.com, haven’t reported significant demand for cryptocurrency payments, they remain open to introducing such options if customer interest grows.
The new financial market digitalization law, recently approved by the Chamber of Deputies and awaiting Senate review, aims to regulate the crypto-asset market and enhance consumer protection under the supervision of the Czech National Bank.