Ronaldo’s Island to Adopt Bitcoin + 1 More Territory

Prospera, a jurisdiction on the Roatán island of Honduras and Cristiano Ronaldo’s Madeira, an autonomous region in Portugal off the coast of Morocco, announced they are adopting bitcoin as de facto legal tender at Miami Bitcoin 2022. 

Today’s announcements came on the very stage that Salvadoran President Nayib Bukele made his announcement last April. While Bukele was meant to attend the conference he released a statement saying he had to cancel his appearance after his government declared a state of emergency due to gang-related killings. To see the full document, click on this tweet by Bitcoin 2022. 

Joel Bomgar, Prospera’s president took the stage with Samson Mow, CEO of Pixelmatic, to break the news. Bomgar dropped three big announcements. 

1. Bitcoin will act and operate as legal tender in the jurisdiction, meaning it will not be subjected to capital gains tax. Residents can also use the cryptocurrency to pay taxes and fees to the jurisdiction. 

2. “Bitcoin Bonds. Starting today, Prospera will also enable ‘enable other municipalities in Honduras or other companies or political subdivisions outside of the United States to float bitcoin bonds from within the Prospera jurisdiction,” said Bomgar. 

3. Investors that want to invest directly in Honduras, Prospera Incorporated can do so by investing in their security token which is live for accredited investors on Securitize. 

Next up to the stage was Miguel Albuquerque, president of Madeira. He started off his speech by saying “I believe in the future, I believe in bitcoin.”

Albuquerque announced that Madeira’s residents won’t have to pay personal income taxes when buying and selling bitcoin. He added that he wants Madeira to be a place where businesses can come to stay and promises to continue to stay ahead of the game in regards to bitcoin. 

Author: Tyler Irvin

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