President Miguel Albuquerque of the Regional Government of Madeira recently made an announcement during a fireside chat at Bitcoin Amsterdam 2023.
The revelation came in conversation with Prince Filip Karađorđević of Serbia on the event’s second day, highlighting Madeira’s commitment to regional innovation through the creation of a Bitcoin business hub.
Collaboration and Technology Development at the Core
President Albuquerque further emphasized the hub’s primary focus on collaboration and technology development. Notably, the initiative is set to become a nexus for innovation, drawing in professionals and enthusiasts alike. Karađorđević expressed keen interest in the hub, underscoring its pivotal role in fostering partnerships and advancing technology.
The president shed light on the hub’s origins, attributing its inception to a group of hard-working professionals. What further sets this initiative apart is its inclusivity—open to anyone seeking collaborative opportunities. Madeira, an autonomous region of Portugal, has embraced Bitcoin through policies exempting investors from personal income taxes.
Madeira’s Bitcoin Embrace Praised by Prince Karađorđević
Prince Filip Karađorđević commended Madeira’s forward-looking approach to Bitcoin adoption. He also likened Bitcoin to a secure, open protocol akin to the internet. As a prominent Bitcoin advocate and Chief Security Officer of Jan3, the Serbian prince actively promotes the advantages of national Bitcoin adoption to global lawmakers.
President Albuquerque revealed a strategic shift in the region’s economic focus, pivoting towards technology, high-tech industries, artificial intelligence, and Bitcoin. This aligns with Madeira’s commitment to embracing the future of technology.
Bitcoin Adoption in Madeira: A Recap from Bitcoin Miami 2022
Referencing the Bitcoin Miami conference in 2022, it was disclosed that Madeira would adopt Bitcoin, offering residents investing in BTC exemption from personal income taxes.
President Albuquerque emphasized,
“I have faith in the future and in Bitcoin. People in Madeira engaging in buying and selling Bitcoin won’t have tax obligations related to personal income.”
This forward-looking approach positions Madeira as a pioneer in Bitcoin adoption and economic innovation.
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