Madeira’s President, Miguel Albuquerque, recently unveiled an ambitious plan to establish a Bitcoin-focused business hub in the region. This announcement was highlighted during a conversation with Serbia’s Prince Filip Karađorđević at the renowned Bitcoin Amsterdam 2023 event.
Prince Karađorđević, a known Bitcoin advocate and the chief security officer at Jan3, showed enthusiasm for Madeira’s innovative venture. He likened Bitcoin’s open and secure protocol to the fundamentals of the internet. Notably, the Prince has been actively encouraging global leaders to recognize the benefits of nationwide Bitcoin adoption.
Albuquerque emphasized the inclusive nature of the hub. He credited its inception to a dedicated team of professionals and affirmed its openness to collaborators from all backgrounds. As an autonomous region of Portugal, Madeira has been progressive in its approach to Bitcoin. In a significant policy move, the region offers exemptions on personal income taxes for Bitcoin investors.
Such exemptions were initially announced at the Bitcoin Miami 2022 conference. Emphasizing Madeira’s forward-thinking approach, Albuquerque commented, “I have faith in the future and in Bitcoin. In Madeira, those trading Bitcoin will be free from personal income tax obligations.”
This initiative signifies Madeira’s broader shift toward a tech-centric economy, encompassing high-tech sectors, artificial intelligence, and of course, Bitcoin.
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