2023-10-14 12:33:19
The President of Madeira, together with Prince Philip of Serbia, has announced the creation of a bitcoin trading center in the region to promote the crypto market. The announcement was made on the second day of the Bitcoin Amsterdam 2023 conference, when Madeira President Miguel Albuquerque spoke with Prince Filip of Serbia regarding the expansion of the crypto sector and the importance of new technologies. Prince Philip said he was very enthusiastic regarding the fact that Madeira had also embraced bitcoin, and in addition to calling BTC the “technology of the future”, he compared it to an “open, secure protocol” similar to the Internet. By the way, the Serbian prince regularly speaks publicly regarding the potential of cryptocurrencies and remains a firm supporter of bitcoin. Madeira is open to the crypto market President Albuquerque also spoke at the conference that artificial intelligence and bitcoin-related initiatives will be on the agenda in Madeira from now on, and he emphasized that the archipelago is extremely open to the crypto market. The president of Madeira first spoke at last year’s Bitcoin 2022 conference in Miami regarding the exemption from personal income tax for individuals trading in bitcoins on the archipelago. In addition, a group of bitcoin enthusiasts visited Madeira earlier this year. The purpose of the visit was to observe the progress of the introduction of bitcoin in the region. Europe prepares for new crypto regulation In the meantime, Europe is preparing for the introduction of the so-called MiCA (Markets in Crypto Assets) regulation package, which is expected to enter into law in mid-2024. The European Securities and Markets Authority (ESMA) recently published a 307-page consultation document discussing the regulation of the crypto sector under MiCA. The document focuses on five key areas: blockchain technology sustainability issues, insider trading, technical requirements for white papers, trade transparency measures, and data management issues for crypto service providers. By the way, ESMA plans to submit the draft technical standards to the European Commission by June 30, 2024, following including the feedback of interested parties in the document.
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