President of Madeira Announces Plans for Bitcoin Business Hub
The President of the Regional Government of Madeira, Miguel Albuquerque, has revealed plans to establish a Bitcoin business hub in the region. The announcement was made during a discussion with Prince Filip Karađorđević of Serbia at the Bitcoin Amsterdam 2023 event.
Prince Karađorđević Highlights Importance of the Hub
Prince Karađorđević expressed interest in the Bitcoin business hub, recognizing its potential for driving technology development and fostering partnerships. President Albuquerque highlighted the hub's inclusive nature and its origins in Madeira, an autonomous region of Portugal.
Madeira's Bitcoin-Friendly Policies
Madeira has been proactive in embracing Bitcoin, implementing policies that exempt Bitcoin investors from paying personal income taxes in the region. President Albuquerque explained that the idea for the business hub came from a group of dedicated professionals and is open to anyone interested in collaboration.
Bitcoin Advocate and Chief Security Officer Supports Madeira's Move
Prince Karađorđević, a well-known Bitcoin advocate and the chief security officer of Jan3, praised Madeira's forward-thinking approach to Bitcoin. He compared the digital currency to the internet, emphasizing its potential for innovation and security.
Madeira's Economic Shift towards Technology and Bitcoin
President Albuquerque shared that his government is actively shifting the region's economic focus towards technology, high-tech industries, artificial intelligence, and Bitcoin. This move aligns with Madeira's vision for the future and its commitment to embracing emerging technologies.
Madeira Residents Exempt from Personal Income Taxes on Bitcoin Investments
At the Bitcoin Miami conference in 2022, it was announced that Madeira would adopt Bitcoin as a form of investment. President Albuquerque assured residents that those who engage in buying and selling Bitcoin will not be subject to personal income tax obligations.
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