The Parliament of Antigua and Barbuda this week approved a reform to the current regulations for the Citizenship for Investment Program (CIP), which allows foreigners to make investments to acquire the citizenship of the Caribbean country, using bitcoin and other cryptocurrencies. The provision also includes among the new currencies accepted by the program, the euro and other fiduciary currencies other than the US dollar.
The decision, disclosed by the local news portal Antigua News Room, was well considered by the Prime Minister of Antigua and Barbuda, Gaston Browne, who spoke on the issue in front of members of the Antiguan Parliament. Browne, who also holds the position of Finance Minister, said that this measure, approved unanimously and without debate by the lower house of Parliament, will stimulate the flow of investments in his country.
The Prime Minister pointed out that this amendment is necessary because there is a market of investors who could "be willing to assume our citizenship, but who would only pay in cryptocurrencies," adding that "if you do not accept cryptocurrencies, then you will be literally excluded from that market. " However, Minister Browne clarified that all payments received by the CIP in cryptoactive will be converted daily to dollars, to avoid the fluctuations of the crypto market. He also assured that his Government has clarity regarding the care that they should have when accepting cryptocurrencies, making clear reference to the possible risks in matters of money legitimation.
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The decision, disclosed by the local news portal Antigua News Room, was well considered by the Prime Minister of Antigua and Barbuda, Gaston Browne, who spoke on the issue in front of members of the Antiguan Parliament. Browne, who also holds the position of Finance Minister, said that this measure, approved unanimously and without debate by the lower house of Parliament, will stimulate the flow of investments in his country.
The Prime Minister pointed out that this amendment is necessary because there is a market of investors who could "be willing to assume our citizenship, but who would only pay in cryptocurrencies," adding that "if you do not accept cryptocurrencies, then you will be literally excluded from that market. " However, Minister Browne clarified that all payments received by the CIP in cryptoactive will be converted daily to dollars, to avoid the fluctuations of the crypto market. He also assured that his Government has clarity regarding the care that they should have when accepting cryptocurrencies, making clear reference to the possible risks in matters of money legitimation.
Do we buy one?
Did you like this article? Don’t forget to follow @Braziocoin on instagram to stay up to date with all the news of the cryptoworld.
Want to BUY BRAZIO COIN? Check out Braz.io for more info.
