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

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Speaking at the Bitcoin 2022 conference in Miami, Samson Mow, Blockstream’s former chief strategy officer, identified three new jurisdictions that would adopt or propose Bitcoin (BTC) as legal tender. As Mow says, the first is that of the Caribbean island of Roatan, which is part of Honduras. Honduras Prospera Inc. is the organizer and promoter of the jurisdiction. Company President Joel Bomgar told the audience:

“Bitcoin within Prospera acts as legal tender. This means there is no capital gains tax on BTC, you can freely transact with BTC, and you can pay taxes and fees to the jurisdiction in BTC.”

Additionally, Bomgar announced that starting Thursday, the Prospera jurisdiction will allow municipalities in Honduras and companies outside of the United States to place Bitcoin bonds within Prospera. Additionally, accredited investors, i.e., US citizens who qualify for a high net worth or income threshold, can also invest directly in Honduras Prospera Inc. and receive securitized equity tokens.

The next jurisdiction to make bitcoin legal tender is Madeira, an autonomous region of Portugal. Miguel Albuquerque, President of the Madeira Regional Government, said that “in Madeira people are not subject to capital gains tax when buying and selling Bitcoin,” while touting the region’s 5% corporate tax rate in its free trade zone as one of the lowest in Europe.

Finally, Mexican Senator Indira Kempis presented the Mexican President with the possibility of enshrining Bitcoin as legal tender, in line with previous claims, commenting:

“In Mexico, 67 million people are not connected to our financial system. Bitcoin is the solution to this problem. Through financial inclusion and financial education, people can have a better quality of life.”