Madeira Establishes Bitcoin Business Hub for Innovation

During a conversation at the Bitcoin Amsterdam event, the President of Madeira declared the establishment of a Bitcoin Business Hub for innovation. He emphasized a commitment to fostering collaboration and technological advancements.

Madeira’s President Plans Bitcoin Business Hub

Miguel Albuquerque, the President of Madeira’s Regional Government, has unveiled plans to create a Bitcoin business hub aimed at fostering innovation in the region. He made this announcement during a conversation with Prince Filip Karađorđević of Serbia at the Bitcoin Amsterdam 2023 event.

Prince Filip Commends Madeira’s Bitcoin Embrace

Prince Filip lauded Madeira’s enthusiastic embrace of Bitcoin as forward-thinking technology, comparing it to the Internet—a secure, open protocol. A prominent advocate for Bitcoin, Prince Filip holds the position of Chief Security Officer (CSO) at Jan31, where he actively promotes national Bitcoin adoption to lawmakers worldwide.

Shifting Economic Focus Towards Technology and Bitcoin

In alignment with President Albuquerque’s vision, Madeira’s government is strategically realigning the region’s economic focus toward technology, high-tech industries, artificial intelligence, and Bitcoin.

Bitcoin Adoption and Tax Benefits in Madeira

At the Bitcoin 2022 conference in Miami, it was announced that Madeira was embracing Bitcoin. This move included offering residents who invest in BTC an exemption from personal income taxes. President Albuquerque made it clear that individuals in Madeira involved in buying and selling Bitcoin would not be subject to personal income tax obligations.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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