There’s a race across different world regions for the next nation to adopt Bitcoin as a national legal tender, following El Salvador’s footsteps. The reports reveal that countries are sticking to a more skeptical approach. But different world regions are showing deliberate moves toward a full-blown adoption.
Honduras, Portugal, and Mexico Join the Race
A delegate from Prospera ZEDE was one of the guests that addressed the audience during the just-concluded Bitcoin 2022 Conference in Miami. Prospera is a special economic zone in Honduras that recently announced it would receive payments in digital currencies within its borders.
This development in the Central American nation is despite the tough stance of the country’s governing bank against virtual currencies. The Prospera delegate at the Bitcoin 2022 Conference had explained that residents in the zone would be able to pay taxes in Bitcoin.
Moreover, Prospera also holds plans to permit local governments and foreign organizations to launch BTC bonds within the zone. According to the delegate, the region hopes that it will help attract foreign investors into its jurisdiction.
Portugal also comes in line with countries with regions making concrete plans towards adopting cryptocurrency as fiat money. Miguel Albuquerque, the President of Madeira, a destination island in Portugal, announced plans to turn the island’s tentacles into Bitcoin soon.
Albuquerque argued for Bitcoin trades, stating that users wouldn’t need to pay income taxes on them. Moreover, the island’s president also highlighted that corporate organizations in his nation enjoy tax perks by using Bitcoin and other virtual currencies.
The address of President Miguel amused the crowd, as the charged audience cheered him as he expressed his optimism about the future of Bitcoin. However, Albuquerque didn’t reveal whether the Portuguese federal government supported his plans.
Mexico also adds to the list of countries showing signs of becoming a haven for cryptocurrencies. During his address on the Bitcoin 2022 stage, a Mexican legislator, Senator Indira Kempis, outlined her nation’s intentions for digital currencies.
Senator Indira Kempis said she intends to tender a bill to regulate cryptocurrency transactions in Mexico. These legislations, which reportedly should come through within two months, would help supervise the country’s financial services technology industry. However, the Mexican Senator failed to comment regarding accepting BTC as a national legal tender.
Other World Regions Advancing the Crypto Chase
In the United States, adopting cryptocurrency transactions has nearly become a contest between states, as each struggles to earn the accolade of a fully digital economy.
New York’s mayor, Eric Adams, surprised many when he declared that he would start receiving his salary in cryptocurrencies. The news, however, isn’t a first-of-a-kind as similar announcements have also come from mayors of Miami and Portsmouth in the UK.
The governor of Colorado also disclosed plans to adopt cryptocurrencies as tax payments. According to the Governor, the decision is necessary to make Colorado a “digital” state.
Baseball and NBA stars have also expressed intentions to take up Bitcoin as a payment method for their services, including Klay Thompson, Odell Beckham, and Andre Iguodala.