Samson Mow introduces new nation-state adoption for crypto in Bitcoin 2022

Samson Mow introduces new nation-state adoption for crypto in Bitcoin 2022

Samson Mow, the former chief strategy officer of Blockstream, revealed three new jurisdictions that will be accepting or proposing Bitcoin (BTC) as legal tender during the Bitcoin 2022 conference in Miami. The first, according to Mow, is the Caribbean island of Roatán, which is part of Honduras. Honduras Prospera Inc. is the jurisdiction’s organizer and promoter. The entity’s president, Joel Bomgar, told 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.” In addition, effective Thursday, Bomgar said that the Prospera jurisdiction will allow municipalities in Honduras and corporate entities outside of the United States to issue Bitcoin bonds. Accredited investors, who must meet a high-net-worth or income requirement in the United States, can also invest directly in Honduras Prospera Inc. and get securitized equity tokens. Madeira, a Portuguese autonomous area, will be the second jurisdiction to recognize Bitcoin as legal cash. “Individuals in Maderia are not subject to capital gains taxes when purchasing and selling Bitcoin,” said Miguel Albuquerque, president of the regional government of Madeira, adding that the region’s 5 percent corporate tax rate in its free trade zone is one of the lowest in Europe. Finally, Mexican Senator Indira Kempis floated the possibility of legislating Bitcoin as legal tender with the Mexican president, in-line with earlier claims, commenting: “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.”

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