Prospera, jurisdiction on the Roatán island off of the northern coast of Honduras, and Madeira, an autonomous region in Portugal, are adopting bitcoin as de facto legal tender—the latest territories to do so
... [+]Prospera, jurisdiction on the Roatán island off of the northern coast of Honduras, and Madeira, an autonomous region in Portugal, are adopting bitcoin as de facto legal tender—the latest territories to do so, following El Salvador’s official recognition of the asset in September 2021.
Today’s announcements were made on the very stage where Salvadoran President Nayib Bukele made history last April. Bukele was also scheduled to appear at the conference later this afternoon but canceled the visit after his government declared a state of emergency amidst a wave of gang-related killings.
In Prospera, residents won’t have to pay capital gains tax on bitcoin and will be able to pay taxes and fees to the jurisdiction using the cryptocurrency, said Joel Bomgar, Prospera’s president, and Samson Mow, former Chief Strategy Officer of bitcoin infrastructure company Blockstream 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. This is “an incredible way to bring foreign direct investments to the part of the world that needs it most,” he added.
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