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Miguel Albuquerque, President of the Regional Government of Madeira, announced plans to establish a Bitcoin (BTC) business hub to drive regional innovation. The announcement was made during a fireside chat with Prince Filip Karađorđević of Serbia on the second day of Bitcoin Amsterdam 2023.
Karađorđević expressed interest in the new Bitcoin business hub, highlighting its role in technology development and partnerships. Albuquerque noted the hub’s origins in Madeira and emphasized its inclusive collaboration opportunities.
According to Albuquerque, the concept for the Bitcoin business hub originated with a group of dedicated professionals and is open 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.
Albuquerque and Prince Filip at Bitcoin Amsterdam 2023. Source: Cointelegraph
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Karađorđević praised Madeira’s adoption of Bitcoin as a forward-looking technology and a secure, open protocol comparable to the internet. A well-known Bitcoin advocate and Chief Security Officer of Jan3, the Serbian prince lobbies global lawmakers on the benefits of national Bitcoin adoption.
According to the Madeiran president, his government is shifting the region’s economic focus toward technology, high-tech industries, artificial intelligence, and Bitcoin.
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During the Bitcoin Miami conference in 2022, it was revealed that Madeira would adopt Bitcoin, with residents investing 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.”
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