The President of the Madeira Regional Government, Miguel Albuquerque, announced plans to create a bitcoin (btc) business center to boost regional innovation. The statement was made during a fireside chat with Prince Filip Karađorđević of Serbia on the second day of bitcoin Amsterdam 2023.
Karađorđević voiced interest in the new bitcoin business center, emphasizing its role in technological development and partnerships, and Albuquerque highlighted the center’s origins in Madeira and its inclusive collaboration opportunities.
According to Albuquerque, the idea for the bitcoin business center started with a group of hard-working professionals and is open to anyone 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 praised the adoption of bitcoin in Madeira as a forward-thinking technology and an open and secure protocol similar to the Internet. The Serbian prince, a well-known bitcoin advocate and chief security officer at Jan3, presses global policymakers on the merits of domestic bitcoin adoption.
According to the president of Madeira, his government is shifting the region’s economic focus towards 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, and residents who invest in btc will be exempt from personal income taxes. Albuquerque stated: “I have faith in the future and in bitcoin. “People in Madeira who engage in the buying and selling of bitcoin will have no tax obligations related to personal income.”
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