Multiple Cities Across the Globe Plans to Adopt Bitcoin (BTC)

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  • Roatan, a Caribbean Island in Honduras, is the first location mentioned by Mow. 
  • Madeira, an autonomous part of Portugal, will be the next state.

Samson Mow, the former chief strategy officer of Blockstream, announced at the Bitcoin 2022 conference in Miami, naming three additional countries adopting or seeking to adopt Bitcoin (BTC). Roatan, a Caribbean Island in Honduras, is the first location mentioned by Mow. The promoter and organizer of the jurisdiction are Honduras Prospera Inc.

Joel Bomgar, the organization’s CEO, addressed the audience:

“Bitcoin within Prospera operates as legal tender. That means no capital gains tax on BTC, you can transact freely using BTC, and you can pay taxes and fees to the jurisdiction in BTC.”

Rise in Bitcoin Global Adoption 

It was also revealed that the Prospera jurisdiction would allow towns in Honduras and corporations outside the United States to issue Bitcoin bonds beginning Thursday. In addition, Honduras Prospera Inc.’s securitized equity tokens may also be purchased directly by accredited investors, meaning those who meet a high net worth or income criterion in the United States.

According to reports, Madeira, an autonomous part of Portugal, will be the next state to recognize Bitcoin as a kind of currency. As a result, individuals in Maderia are not subject to capital gains taxes when buying and selling Bitcoin,” said Miguel Albuquerque, president of the regional government of Madeira. He also praised the region’s 5 percent corporate tax rate in its free trade zone as one of Europe’s lowest rates. Sen. Indira Kempis of Mexico, echoing past claims, suggested Bitcoin legislation as legal money to the Mexican president.

The Senator commented:

“In Mexico, 67 million people are not included in our financial system. Bitcoin is the solution to this problem. Through financial inclusion and financial education, the people can have a better quality of life.”

The adoption has not been limited to the places mentioned above; multiple cities have put their leg forward. These include La Molina- Peru, Lugano- Switzerland, Chandler-Arizona, USA and Portsmouth-New Hampshire, USA.


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