The crypto-friendly city of Próspera has fired back against a 'barrage of lies' from mainstream media that it believes is dragging their project through the mud.
Próspera has been locked in a legal standoff with the government since President Castro repealed the ZEDE law in April, which would give the project 12 months to register under a different framework such as a “Free Zone” which would offer tax cuts but not allow self governance.
At the start of June, Próspera submitted a request for government consultations under the Investment Chapter of the Dominican Republic–Central America–United States Free Trade Agreement , in a bid to maintain its ZEDE status under the legal terms of the initial agreement.Bitcoin exchange outflows surge as 'not your keys, not your crypto' comes back into fashion
Honduras Próspera Inc. has remained staunch that its registration as a ZEDE has a valid “legal stability” for at least another 50 years due to the legal framework of the agreement it signed with the government back in 2017. In a June 4 blog post, the firm“A failure to uphold these commitments would constitute a breach of international and Honduran law, as well as wrongful and unfair treatment of Honduras Próspera.
The company stated it hopes to avoid an “international investor-state arbitration” and hopes that the government will act in “good faith” to the initial ZEDE agreement. The firm plans to “invest hundreds of millions of dollars more in the coming years,” and In April, Honduras Próspera Inc.The representative added that the government is “yet to formally respond to our request for official consultation.
Próspera is a privately-managed settlement in Honduras managed by Honduras Próspera Inc. The initial size of the Próspera Village is 58 acres and contains areas for its headquarters, housing, and areas for businesses to set up shop. Its size can grow over time if local landowners agree to integrate their properties into the ZEDE territory.
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