Antigua & Barbuda goes “full bitcoin” and accepts the digital currency for government services and even allows you to buy a citizenship with crypto.
There is a catch though. You have to use “fake” bitcoin, not the real one. Yes, they accept Bitcoin Cash.
With the help of Coingeek, anyone can buy citizenship in Antigua and Barbuda with their crypto coins – there is a nice rebuttal for anyone claiming crypto has no purpose and application in real world.
The press release goes on to depict major attractions of the island – and those do not include only stunning beaches but also tax breaks.
“Accepted applicants are offered a vast number of business opportunities in Antigua’s emerging economy,” we learn. “Best of all there is no personal income tax in Antigua!”
Through the Citizenship by Investment program, both individuals and their families can be accepted for citizenship to a country that is a true (tax) paradise on earth.
The news was met with disbelief by local media. “Oh boy, do we have a lot of questions on this one,” wrote the bewildered editors of the Antigua Observer.
“By accepting Bitcoin Cash, isn’t the government opening itself to significant exchange risks because of the cryptocurrency’s volatility? What will the government do with the Bitcoin Cash it receives?” They also don’t miss an opportunity to spur a misinformation about crypto, talking about the bad publicity associated with anonymous (bitcoin is not anonymous) currency, in a country already infamous as tax heaven for cheats and criminals.
A schedule on Antigua’s CIP website lists the size of an investment and fees required to obtain citizenship, which circle around $100,000 USD. Bitcoin Cash and other cryptocurrencies are not mentioned on their official site, suggesting that CoinGeek are the one that push their agenda as they are known as one of the rare backers of this altcoin.
The islands–which live thanks to developed tourism and gambling industry – have evolved into sort of a crypto-paradise in recent years, chiefly after being settled by Calvin Ayre, a CoinGeek’s billionaire founder. He recently revealed plans for a BCH-only “luxury tourist village,” which will open this summer. Government of the island has made plans for a cryptocurrency exchange, and the Cabinet has instructed authorities to “draft laws for the implementation of Bitcoin.”
The Caribbean nation is adopting bitcoin as the authorities expect the country to become a leader in bitcoin adoption and application of the new hot trend – blockchain technology.
The nation is a group of two major islands and numerous smaller islands amidst the Atlantic Ocean and the Caribbean Sea.
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