Samson Mow presents at the Bitcoin 2022 conference the jurisdictions that could adopt BTC as legal tender

Samson Mow presents at the Bitcoin 2022 conference the jurisdictions that could adopt BTC as legal tender

Speaking at the Bitcoin 2022 conference in Miami, Samson Mow, former chief strategy officer at Blockstream, named three new jurisdictions that are adopting or proposing to adopt Bitcoin (BTC) as legal tender. According to Mow, the first is the Caribbean island of Roatán, which is part of Honduras. Honduras Prospera Inc. is the organizer and promoter of the jurisdiction. The president of the entity, Joel Bomgar, told the attendees:

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

Additionally, Bomgar announced that starting today, the Prospera jurisdiction will allow Honduran municipalities and corporate entities outside of the United States to float Bitcoin bonds within the special city. Moreover, accredited investors, meaning US residents who qualify for a high net worth or income threshold, can also invest directly in Honduras Prospera Inc. and receive equity tokens.

The next jurisdiction to make Bitcoin legal tender is Madeira, an autonomous region of Portugal. Miguel Albuquerque, President of the Regional Government of Madeira, said that “individuals in Maderia are not subject to capital gains tax when they buy and sell Bitcoin,” while also touting the region’s 5% corporate tax rate. in its Free Trade Zone as one of the lowest in Europe.

Lastly, Mexican senator Indira Kempis raised the possibility of legislating Bitcoin as legal tender with the Mexican president. In line with previous statements, the senator commented:

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

Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.

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