Is the Bitcoin standard coming? News from Honduras, Mexico and Portugal

After Salvadoran President Nayib Bukele announced at the Bitcoin 2021 conference in Miami last year that he would introduce Bitcoin as a legal means of payment, the crypto space was turned upside down. State adoption was what the bitcoin community could only dream of for a long time.

So again this year, all laser eyes were on the event in the Sunshine State of Florida. The hope: more governments that would seize the spotlight and the momentum to adopt the crypto reserve currency in their respective countries.

No sooner said than done: Yesterday April 7, at the Bitcoin 2022 conference, Miguel Albuquerque, President of the Autonomous Region of Madeira, announced at least a first step towards the Bitcoin standard in Europe: favorable tax conditions on the island Portuguese for Crypto Fans:

As the Government of Madeira and as President of the Government, I believe in the future and I believe in Bitcoin

Miguel Albuquerque at Bitcoin Conference 2022

Samsom Mow, former chief corporate strategist block the flow and Joel Bomgar, president of Prosper Inc. and Republican U.S. Congressman, also announced that the Caribbean island of Roatan, which is part of Honduras, is also legal tender for Bitcoin:

Bitcoin acts as legal tender at Prospera. This means that there is no capital gains tax on BTC and you can trade BTC freely. Taxes and fees can be paid to the state in BTC.

Joel Bomgar at Bitcoin Conference 2022

Who is Prospera?

Founded in 2020, Próspera is a private colony in Honduras with its own political system at the judicial, economic and administrative levels. Próspera is in partnership with Honduras. In 2020, a center for sustainable economic development was created on the island of Roatán.

As early as Thursday, April 7, the Caribbean Special Economic Zone issued a press release stating that Bitcoin and other cryptos can be used as payment in the future.

Moreover, go Próspera enables other communities in Honduras and businesses outside the United States to issue bitcoin bonds. These will work similarly to the Bitcoin bonds planned by El Salvador, also developed in partnership with Samson Mow.

Just a few weeks ago, BTC-ECHO reported that Honduras was a hot candidate for Bitcoin adoption. However, there has been no official confirmation of the statements. However, as early as March 18, well-known Bitcoin journalist Max Keizer had a flag of Honduras with the caption “It’s happening…” on his Twitter account published.

Also Mexico with bitcoin ambitions

A few weeks ago, the first rumors emerged in Mexico that Bitcoin adoption was in the works. In the spotlight: Mexican Senator Indira Kempis. At the end of February, she returned with enthusiasm from a trip to El Salvador, Bitcoin country. Their plan: to introduce Bitcoin as a legal means of payment in Mexico. At the Miami conference, the politician pointed out that she was working with Mow to arrange a meeting with the Mexican president.

Also present at the conference: Ricardo Salinas, the third richest person in Mexico. The 66-year-old is one of the absolute defenders of Bitcoin. About 60% of his portfolio is made up of Bitcoin and Bitcoin stocks, the Mexican admitted in Miami. The billionaire made his dislike of other coins clear during a panel discussion: “Sell your shitcoins and buy bitcoins,” Salinas said.

If you want to know what it looks like in the BTC country of El Salvador, you should definitely take a look at our report from last year.

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