07 Apr 2022 · 1 min read

Honduras’ Roatán Island, Portugal’s Madeira to ‘Adopt Bitcoin’, Mexican Senator Sends Bullish Sign Too

Samson Mow during his presentation at Bitcoin 2022 today. Source: A video screenshot, Youtube/Bitcoin Magazine 

 

The island of Roatán in Honduras and Portugal’s Madeira region are both set to “adopt bitcoin,” while a Mexican senator hinted that new talks about making bitcoin legal tender in this country about to begin.

The announcements were made by representatives from the three countries, who were brought to the stage of the Bitcoin 2022 conference in Miami today by Samson Mow, a former chief strategy officer at bitcoin development firm Blockstream who currently works on bitcoin nation-state adoption.

According to the announcements:

  1. The island of Roatán in Honduras will have bitcoin “operate as legal tender,” including giving bitcoin tax-free status. In addition, the island’s economic free zone, managed by Honduras Prospera Inc., will enable bitcoin bonds as a way to bring foreign direct investments into the country, Joel Bomgar, President of Honduras Prospera, an economic development platform, said.
  2. Madeira, an autonomous region of Portugal, will “adopt bitcoin” in this archipelago, according to the President of the Government of Madeira, Miguel Albuquerque. “I believe in the future and I believe in bitcoin,” Albuquerque said on stage at the conference. He added that his government will “continue to work to create a fantastic environment for bitcoin in Madeira.”
  3. New legislation focused on bitcoin and fintech more broadly will be proposed in the Mexican senate, Senator Indira Kempis from Mexico said. “We want to sit down with the president to talk about making bitcoin legal tender in Mexico,” she added.

Meanwhile, Mow also revealed his new company, JAN3, saying that it raised USD 21m at a USD 100m valuation. The company aims to build BTC infrastructure for El Salvador and Bitcoin city.

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Learn more: 
- Game Theory of Bitcoin Adoption by Nation-States
- ‘Developing Economies’ Tracking El Salvador’s Bitcoin Moves with Interest

- Corporations & Countries Watch and Learn From El Salvador's Bitcoin Experiment
- Bitcoin Mass Adoption Would Benefit and Harm Current Economy

Bitcoin Is More ‘Public’ Money than Central Bank-Issued Fiat Currencies
- Why Fiat Currency Is More Confusing Than Crypto

- Technically Capable Bitcoin Has Other Mass Adoption Challenges To Solve
- How Bitcoin & Crypto Might Help Ease Wealth Inequality (Without Miracles)
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(Updated at 16:10 UTC with details about JAN3.)