Speaking at the Bitcoin 2022 conference in Miami, leaders of Prospera (Honduras) and Madeira (Portugal) announced that their residents will not have to pay taxes on bitcoin.

Prospera, jurisdiction on the Roatán island off of the northern coast of Honduras, and Madeira, an autonomous region in Portugal, are adopting bitcoin as de facto legal tender—the latest territories to do so, following El Salvador’s official recognition of the asset in September 2021.

In Prospera, residents won’t have to pay capital gains tax on bitcoin and will be able to pay taxes and fees to the jurisdiction using the cryptocurrency.

Madeira’s residents won’t need to pay personal income taxes when buying or selling bitcoin.