Miguel Albuquerque, the President of the Madeira regional government, has unveiled plans to establish a Bitcoin Business Hub, aimed at promoting innovation within the region. This announcement came during a fireside chat at the Bitcoin Amsterdam 2023 conference with Serbian Prince Filip Karađorđević.
Prince Karađorđević expressed his interest in the newly proposed Bitcoin Business Center and its significance in technology development and fostering partnerships. In response, Albuquerque emphasized the center's origin in Madeira and its inclusive approach to collaboration.
The concept for the Bitcoin Business Center initially sprouted from a collective of dedicated professionals, and it welcomes contributions from anyone looking to engage. Madeira, an autonomous region within Portugal, has actively embraced Bitcoin through a policy exempting Bitcoin investors from personal income tax.
Prince Karađorđević commended Madeira's forward-thinking approach toward Bitcoin, considering it a progressive technology and a secure, open protocol similar to the Internet. The Serbian prince is a prominent advocate for Bitcoin and serves as the Chief Security Officer of Jan3, an organization that advocates for the global adoption of Bitcoin at the national level.
President Albuquerque highlighted his government's commitment to redirect the region's economic focus toward technology, high-tech industries, artificial intelligence, and Bitcoin. It was previously disclosed during the 2022 Miami Bitcoin Conference that Madeira would officially embrace Bitcoin. Notably, residents investing in Bitcoin within the region are exempt from personal income tax obligations. Albuquerque expressed his optimism about the future of Bitcoin and emphasized that individuals buying and selling Bitcoin in Madeira face no personal income tax burdens.
