The president of Madeira made the announcement during a chat with Prince Filip of Serbia at Bitcoin Amsterdam, pledging an emphasis on collaboration and technology development.) business hub to drive regional innovation. The statement was made during a fireside chat with Prince Filip Karađorđević of Serbia on the second day of Bitcoin Amsterdam 2023.
According to Albuquerque, the idea for the Bitcoin business hub started with a group of hard-working professionals and is open to everyone who wants to collaborate. Madeira is an autonomous region of Portugal that has embraced Bitcoin by implementing policies that exempt Bitcoin investors from paying personal income taxes in the region.Karađorđević commended Madeira’s Bitcoin embrace as a forward-looking technology and a secure, open protocol similar to the internet.
According to the Madeiran president, his government is shifting the region’s economic focus toward technology, high-tech industries, artificial intelligence and Bitcoin., with residents who invest in BTC being exempt from personal income taxes. Albuquerque stated: “I have faith in the future and in Bitcoin. People in Madeira who engage in buying and selling Bitcoin won’t have tax obligations related to personal income.