Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Is the BTC standard coming? News from Honduras and Mexico

3 min read


After El Salvador’s President Nayib Bukele announced at the BTC Conference 2021 in Miami last year that he would introduce BTC as a legal means of payment, the crypto space was upside down. State adoption was what the BTC community could only dream of for a long time.

Thus, once again this year, all laser eyes were on the event in the Sunshine State of Florida. The hope: more governments that would seize the limelight and momentum to adopt the crypto reserve currency in their respective countries.

No sooner said than done: Yesterday, April 7, at the BTC 2022 conference, Miguel Albuquerque, President of the autonomous region of Madeira, announced at least a first step towards the BTC standard in Europe: favorable tax conditions on the Portuguese island for crypto fans:

As the Government of Madeira and as President of the Government, I believe in the future and I believe in BTC

Miguel Albuquerque on the BTC 2022 Conference

Samsom Mow, former chief strategist at the company block stream and Joel Bomgar, President of Prospera Inc. and Republican US Congressman, also announced that the Caribbean island of Roatan, which is part of Honduras, is also making BTC legal tender:

BTC acts as legal tender at Prospera. This means there is no capital gains tax on BTC and you can trade BTC freely. Taxes and fees can be paid to the state in BTC.

Joel Bomgar on the BTC 2022 Conference

Who is Prospera?

Established in 2020, Próspera is a privately-governed settlement in Honduras with its own political system at the judicial, economic and administrative levels. Próspera is in partnership with Honduras. In 2020, a center for sustainable economic development was established on the island of Roatán.

As early as Thursday, April 7th, the Special Economic Zone in the Caribbean had one press release issued, which stipulates that BTC and other cryptos can be used as a means of payment in the future.

In addition, will Próspera allow other communities in Honduras and companies outside the US to issue BTC bonds. These will function similarly to El Salvador’s planned BTC bonds, also developed in partnership with Samson Mow.

Just a few weeks ago, Cryptheory reported that Honduras was a hot candidate for BTC adoption. However, there was no official confirmation of the statements. However, as early as March 18, well-known BTC journalist Max Keizer had a Honduras flag with the caption “It’s happening…” on his Twitter account.

Also Mexico with BTC ambitions

A few weeks ago, the first rumors arose in Mexico that a BTC adoption was being planned. In the spotlight: Mexican Senator Indira Kempis. At the end of February, she returned enthusiastically from a trip to the BTC country El Salvador. Their plan: Introduce BTC as a legal means of payment in Mexico. At the Miami conference, the politician stressed that she was working with Mow to arrange a meeting with Mexico’s president.

Also present at the conference: Mexico’s third richest person, Ricardo Salinas. The 66-year-old counts himself among the absolute BTC advocates. Around 60 percent of his portfolio is in BTC and BTC stocks, the Mexican admitted in Miami. The billionaire made his aversion to other coins clear in a panel discussion: “Sell your shitcoins and buy BTC,” said Salinas

Earn money and anonymity with crypto browsers

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply