The government based in Antigua and Barbuda plans to set up a crypto exchange. The authorities in the capital St. John want to earn income for the “national treasury” in order to position the country “on the cutting edge of the new system of wealth creation”.
The Antigua and Barbuda’s government plans to launch the nation’s first crypto exchange
The adoption of this proposal will be reviewed by the Antigua and Barbuda’s Parliament. Wanting to be in step with technological innovations, Antigua and Barbuda has introduced its new project to set up a crypto exchange national. According to the Daily Observer, the law regarding the use of blockchain technology and virtual coins will be published in the near future by the Parliament.
The Minister of Information Technology, Melford Nicholas, stated that the cryptocurrency trading platform will offer buyers and sellers the best services at a discounted fee. The government’s goal is to generate national revenues without being taxed.
“Antigua and Barbuda is determined to be on the cutting edge of the new system of creating wealth”, according to an official statement.
“By establishing an exchange here we will bring Antigua into the game, as it were. Should there be any potential economic spinoffs, we should be in the front seat”, stated Mr. Nicholas.
The Canadian-based Calvin Ayre is a partner of Antigua and Barbuda’s government
The Minister of Information Technology also has announced that the Canadian businessman Calvin Ayre is part of the new technological project. Being known for his involvement in crypto activities and his appreciation especially for Bitcoin Cash, the businessman will be the person who will advise the government of Antigua and Barbuda in future operations regarding the crypto exchange.
“Mr. Ayre was appointed as an economic envoy and he is now a citizen of Antigua and Barbuda. We think we can leverage both of those relationships”, added Melford Nicholas.
In February 2018, Calvin Ayre made remarkable with his new project. He plans to invest $ 100 million in order to establish a resort at Valley Church beach located in Antigua.
Since 2017, the Antigua and Barbuda nation has planned to legally adopt Bitcoin. The national authorities are confident that the crypto currency will bring numerous benefits to the nation, especially in the tourism and light industry sectors.
Antigua and Barbuda is a state located in the Caribbean Sea that plans to adopt the crypto assets and blockchain technology as soon as possible.