The City of Prospera in Honduras and Portugal’s Autonomous Madeira region Are Adopting Bitcoin Now!

Honduras and Portugal adopts Bitcoin

The City of Prospera in Honduras and Portugal’s autonomous Madeira region have announced the adoption of the leading cryptocurrency Bitcoin in these areas at the Bitcoin Conference today.

There is no tax on buying and selling bitcoin in Madeira, confirmed by Portugal’s representative. Furthermore, President of the Government of Madeira Miguel Albuquerque also says Madeira offers “fantastic conditions” for corporations with one of the lowest taxation rates in Europe.

“I believe in the future and I believe in bitcoin,” Miguel Albuquerque said at the Bitcoin Conference 2022.

According to the country representative’s announcement at Bitcoin Conference 2022, the city of Prospera in Honduras will allow Bitcoin to operate as legal tender with no capital gains tax. Prospera also accepts bitcoin for payment of fees and taxes. Additionally, according to Joel Bomgar, President of Honduras Prospera, an economic development platform, the island’s economic free zone, which is controlled by Honduras Prospera Inc., would allow bitcoin bonds as a way to attract foreign direct investments into the country.

A few days ago, Honduras President Xiomara Castro has allegedly stated that the country should not be the only one “escaping dollar hegemony.” The Central American country has shown considerable interest in cryptocurrencies in the past. In August 2021, Honduras had previously installed its first Bitcoin and Ethereum ATM in Tegucigalpa, allowing consumers to purchase digital assets using the native currency lempira.

On March 18, famous crypto enthusiast Max Keiser, who has been spending time in and around the region, tweeted the Honduran flag, implying that something may be occurring there soon. And now it comes true.

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