Samson Mow, the former chief strategy officer of Blockstream who stepped down in March to focus on “nation-state Bitcoin adoption,” brought legislators from around the world on stage at Bitcoin 2022 to highlight regulatory progress being made to encourage this adoption around the world.
Joel Bomgar, the president of Próspera, an “economic development hub” located in Honduras, said that bitcoin acts as legal tender there; Miguel Filipe Machado de Albuquerque, the president of Portugal’s Madeira region, announced that bitcoin investors will pay no personal income taxes there; and Indira Kempis, a senator in Mexico, announced that she plans to propose regulation there to recognize bitcoin as legal tender.
"I think now is the pivotal time in human history and we need to move things forward fast. What we need is more nation state bitcoin adoption,” Mow said. “Every country, every jurisdiction, will have a unique path to bitcoin adoption. Legal tender is one way, another way is de facto legal tender."
Mow served as the chief architect of a “volcano bitcoin bond” introduced by El Salvador that would see the county issue $1 billion in bonds on Blockstream’s Liquid Bitcoin sidechain then split the proceeds between a $500 million allocation to BTC and an investment in energy and bitcoin mining infrastructure. He announced that he’s formed a new company, called JAN3 in reference to the launch of the Bitcoin network, to focus on nation-state Bitcoin adoption.
Mow added that the company has raised $21 million at a $100 million innovation.
Mow then invited the series of legislators to join him on stage.
"I believe in the future and I believe in Bitcoin,” said President Machado de Albuquerque. "Individuals in Madeira that buy and sell bitcoin ... don't pay taxes. They’re not subject to personal income taxes.”
“Through financial inclusion and financial education, the Mexican people can have a better quality of life,” Kempis said once she took the stage. “In two months, we [will] propose legislation to modify regulations in fintech and in money title law… We have a message for our president: We are looking forward to sitting down and getting coffee with you to talk about this plan, Bitcoin as legal tender in Mexico.”
Bitcoin 2022 is part of the Bitcoin Event Series hosted by BTC Inc, the parent company of Bitcoin Magazine.