Madeira Launches Crypto Business Hub for Innovation

Madeira’s Crypto Business Hub

Miguel Albuquerque, President of the Regional Government of Madeira, discussed plans to create a Bitcoin (BTC) business hub to foster regional innovation in a fireside chat with Prince Filip Karađorđević of Serbia at the Bitcoin Amsterdam 2023 event.

Karađorđević was enthusiastic about the proposed crypto business hub, citing its potential for technology development and partnerships. Albuquerque highlighted the hub’s Madeira roots and its inclusive approach to collaboration.

The idea for the Bitcoin business hub was generated by a group of hard-working professionals and is open to anyone interested in joining. Madeira is an autonomous region of Portugal that has embraced Bitcoin by exempting Bitcoin investors from paying personal income taxes in the region.

Karađorđević praised Madeira’s crypto future, describing Bitcoin as a secure, open protocol akin to the internet. As a Bitcoin advocate and the chief security officer of Jan3, the Serbian prince is actively advocating for national Bitcoin adoption with global lawmakers.

The President of Madeira declared that his government is shifting the region’s economic focus to crypto business, high-tech industries, artificial intelligence and Bitcoin. At the Bitcoin Miami conference in 2022, Albuquerque announced that Madeira would adopt Bitcoin, with citizens who invest in BTC being exempt from personal income taxes. He stated: “I’m confident in the advantages of web 3.0 and in Bitcoin. People in Madeira who invest in buying and selling Bitcoin won’t have to pay taxes related to personal income.”