At Bitcoin 2022 on Thursday, it was announced that Portugal’s Madeira region and the island of Roatán in Honduras are both adopting bitcoin as legal tender.

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The announcements were made by representatives from the countries, who were brought on stage at the convention by Ex-Blockstream chief strategy officer Samson Mow, who now focuses on bitcoin nation-state adoption.

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A few weeks ago, Honduras' central bank issued a statement clarifying that the country has no plans to adopt bitcoin as legal tender. However, yesterday a jurisdiction called Próspera on the island of Roatán announced that it now recognizes cryptocurrency as a legal currency in its own area.

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"Honduras Próspera Incorporated is the promoter and organizer of the Próspera jurisdiction on the Caribbean Island of Roatán in Honduras," Honduras Próspera Inc. president Joel Bomgar told the audience alongside Mow. "Bitcoin within Próspera operates as legal tender -- that means no capital gains tax on bitcoin, you can transact freely using bitcoin, and you can pay taxes and fees to the jurisdiction in bitcoin," he said. "You can also start a bitcoin business in the jurisdiction using the regulatory framework of your choice, and all done in an AML and KYC-compliant manner."

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Bomgar and Mow were joined by Miguel Albuquerque, president of the Regional Government of Madeira in Portugal, who announced that residents of Maderia will no longer need to pay capital gains taxes when buying and selling Bitcoin.

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Finally, Mexican Senator Indira Kempis shared that new legislation focused on bitcoin and fintech will soon be proposed in the Mexican senate. “We want to sit down with the president to talk about making bitcoin legal tender in Mexico,” she added.

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