11.4.2023 CKMA publishes an economic study on the state and potential of the crypto industry in the Czech Republic. The authors of the study are economists Lukáš Kovanda, Jan Šincl and the collective of Prague university of economics and business.
"The Czech Republic has huge innovation potential in the industry it co-founded and shaped. But it is also an economic issue, as it is a growing sector with a growing impact on public finances.
... it's only a matter of time before this issue will figure prominently in the elections."
Five different models of the future impact of the cryptocurrency industry on the state budget and economy were estimated. A conservative estimate with slow adoption shows that for the state it is more than 37 billion crowns in taxes and levies by 2033. This is the equivalent of more than 53,000 jobs created over the next ten years. Relative to the size of the economy, this is approximately 0.2% of GDP created over the ten years. The conservative scenario with faster adoption and the optimistic scenario point to higher numbers. Even in the pessimistic scenario, however, we are talking about tens of billions of crowns over the next ten years. These figures are only for the business side if users do not pay taxes at all, as in Portugal, for example. With taxes, the estimated impact on the size of the economy is of course much larger.
The crypto-asset sector is growing and will account for hundreds of billions of our gross domestic product over the next ten years. It makes sense not only to monitor it, but to put it on an equal footing with traditional assets, so that we do not later lose the proceeds of this economic activity as a society that helped bring it into the world.
You can download the full text of the economic study here (Czech language).
