Quality of life, bitcoin-friendly tax laws and a huge influx of expats have made Lisbon one of the crypto capitals of the world.
It also helps that there are clear ground rules on crypto in Europe, thanks to a law known as Markets in Crypto-Assets, or MiCA. While the guidelines aren't Portugal-specific, the comprehensive regulatory framework for digital assets makes it easier to navigate operating a crypto business or investing in virtual tokens in the eurozone.
Primiterra used to spend his days working to measure global internet censorship as part of his work with a sub-project of the dark web browser, Tor. But nowadays, he volunteers his coding skills to Bitcoin Map, an open-source tool that lets you search for merchants that accept bitcoin anywhere in the world.
Lisbon has been a relief for True, who previously ran underground workshops in Egypt where bitcoin is illegal.throw people in jail for talking about it and just working on it or doing anything with it," he said."That's actually the first place I started giving presentations on bitcoin." "Their view was, 'Oh, bitcoin, someone controls that, too, surely, so it's not going to be any better,'" he said, adding that it didn't take long to"orange pill" them, a phrase used by bitcoiners to describe the process of indoctrinating someone in the ways of bitcoin.
"I've already had people contacting me asking to make content for me or for my project, not for any money, not for any fame ... but just because they're passionate, because they believe in the mission," continued True."They believe in the idea, and that's really what's made me think, 'Wow, I should really stay here. This is where the community clearly is.
This means that gains from buying or selling cryptocurrency, as with other fiat currencies, are not taxed if the trader holds on to their coins for at least 12 months. Meanwhile, profits made on crypto held for less than a year is taxed at a rate of 28%.
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