Latest News

Madeira announces the establishment of an innovative Bitcoin business hub.

Amid the vibrant ambiance of Bitcoin Amsterdam, the President of Madeira, Miguel Albuquerque, revealed his groundbreaking vision during an engaging exchange with Prince Filip Karađorđević of Serbia. Their discourse echoed a resounding commitment to fostering collaboration and propelling technological advancements.

President Miguel Albuquerque, the esteemed leader of Madeira’s Regional Government, unveiled an ambitious blueprint. This visionary plan revolves around the establishment of a thriving Bitcoin business hub, meticulously designed to fuel regional innovation. The official announcement unfolded within the intimate setting of a fireside conversation on the second day of the illustrious Bitcoin Amsterdam 2023 event.

Prince Karađorđević, an ardent advocate for progress and technology, expressed a keen interest in this nascent Bitcoin business hub. His emphasis centered on the pivotal role it could play in technological advancement and forging invaluable partnerships. President Albuquerque, with an air of enthusiasm, elaborated on the hub’s origins within Madeira and the myriad collaborative opportunities it promises.

In the words of Albuquerque, the genesis of this pioneering Bitcoin business hub can be attributed to a dedicated cohort of hardworking professionals. This initiative, open-armed and inclusive, beckons all who share a desire to collaborate. Madeira, an autonomous region nestled within Portugal’s embrace, has firmly embraced the world of Bitcoin. Their forward-thinking policies have paved the way for Bitcoin investors, granting them exemption from personal income taxes within the region.

Prince Karađorđević, renowned for his unwavering support of Bitcoin, commended Madeira’s embrace of this innovative technology. To him, Bitcoin embodies the spirit of an open, secure protocol akin to the internet itself. Notably, the Serbian prince assumes the role of Chief Security Officer at Jan3, where he champions the cause of national Bitcoin adoption on a global stage.

For President Albuquerque, the course of his government signifies a significant shift. The region’s economic spotlight is now firmly fixed on technology, high-tech industries, artificial intelligence, and, of course, Bitcoin. This transformational vision finds its roots in the Bitcoin Miami conference of 2022, where it was first unveiled that Madeira would formally adopt Bitcoin. This progressive stance ensures that residents engaging in Bitcoin transactions will be relieved of personal income tax obligations. Albuquerque eloquently conveyed his faith in both the future and the transformative potential of Bitcoin: “In Madeira, those who partake in the buying and selling of Bitcoin shall do so free from the burden of personal income tax obligations.”

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.