March 27, 2024
President Albuquerque unveils Madeira's Bitcoin hub for innovation.
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Bitcoin Amsterdam 2023: Madeira’s Pioneering Move Toward a Bitcoin-Focused Economy

The President of the Regional Government of Madeira, Miguel Albuquerque, has unveiled plans to establish a Bitcoin business center aimed at fostering regional innovation. This announcement was made in the course of a conversation with Prince Filip Karađorđević of Serbia during the second day of the Bitcoin Amsterdam 2023 event.

Karađorđević demonstrated a keen interest in the upcoming Bitcoin business hub, emphasizing its pivotal role in technological advancement and forging partnerships. Albuquerque pointed out that the hub has its roots in Madeira and offers inclusive collaboration opportunities.

Albuquerque attributed the genesis of the Bitcoin business hub to a dedicated group of professionals and extended an open invitation to anyone interested in collaborating. Madeira, an autonomous region of Portugal, has embraced Bitcoin by implementing policies that exempt Bitcoin investors from paying personal income taxes within the region. Karađorđević lauded Madeira’s proactive stance on Bitcoin adoption as a forward-looking technological move, likening it to a secure and open protocol akin to the internet. As a notable advocate for Bitcoin and the Chief Security Officer of Jan3, the Serbian prince actively engages with global legislators to promote the advantages of national Bitcoin adoption.

According to the President of Madeira, his government is redirecting the region’s economic focus towards technology, high-tech industries, artificial intelligence, and Bitcoin. This shift was previously unveiled during the Bitcoin Miami conference in 2022, when Madeira announced its intention to embrace Bitcoin, thereby offering residents who invest in BTC exemption from personal income taxes. Albuquerque affirmed that he holds a strong belief in the future and in Bitcoin, and individuals in Madeira engaged in buying and selling Bitcoin will not be burdened with tax obligations related to personal income.

Image by pixabay

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