Bitcoin Gains Momentum In Portugal And Honduras

Madeira, a Portuguese autonomous zone, and Prospera, a jurisdiction on Honduras Roatán island, are reportedly making preparations to officially accept Bitcoin (BTC) as a payment option within their borders and embrace it as legal tender.

Its worth mentioning that when purchasing or selling the worlds biggest crypto by market cap, residents in both regions will also not have to pay capital gains tax.

The authorities will allow other municipalities in Honduras or various firms along with political subdivisions that do not reside within the U.S to float BTC bonds from inside the Prospera jurisdiction, according to Prospera President Joel Bomgar. President Bomgar feels that this might help the local economy by attracting international direct investments.

Moreover, the President of the Regional Government of Madeira, Miguel Albuquerque, similarly stated that citizens will not have to pay capital gains taxes while trading BTC as aforementioned.