Antigua and Barbuda news

Investment Programme Act allows payments for citizenship using Bitcoin and other cryptocurrencies. Last updated: July 13, 2018.

World latest news

You Can Become a Citizen of Antigua and Barbuda for Less Than 13 BTC

The parliament of Antigua and Barbuda has amended the country’s Citizenship by Investment Programme Act to accept payments in the form of bitcoin and other cryptocurrencies. With Antigua and Barbuda’s citizenship by way of investment into its National Development Fund having been reduced to a cost of $100,000 USD last year, the price of citizenship in the independent Commonwealth country is less than 13 BTC at current prices. Also Read: More Than 6% of Securities Lawsuits Filed in 2018 Related to ICOs  Antigua-Barbuda Amends Citizenship by Investment Programme to Accept Crypto Antigua and Barbuda’s parliament has amended the country’s citizenship by investment programme (CIP) to allow payments in the form of cryptocurrencies. The resolution was passed in the country’s lower house and also facilitates CIP payments in the form of fiat currencies other than USD. Gaston Browne, Antigua and Barbuda’s prime minister and minister of finance, stated: “So not only are we providing the capacity for payment in Euros, but we are also proving for payments using bitcoin and other cryptocurrencies.” Mr. Browne acknowledged that “we know we have to be careful” with regards to cryptocurrencies. The prime minister added that “moving money is important and if you cannot move money you cannot receive it,” concluding that “it is quintessential that we have a payment mechanism that could facilitate payments in cryptocurrencies.” Antigua-Barbuda Seeks to Expand Citizenship by Investment Programme Prime Minister Gaston Browne Mr. Browne emphasized that facilitating CIP payments in the form of cryptocurrency “expands your market because we have a number of cryptocurrency investors who may be quite willing to take up our citizenship but would only pay in cryptocurrencies,” adding “If you do not accept the cryptocurrency then you would be literally locked out of that market.” In October of last year, the country’s parliament reduced the price for citizenship through its National Development Fund (NDF) by half – bringing the price down to $100,000. At the time, the Antigua and Barbuda government argued that its citizenship by investment program was failing to compete with those offered by neighbouring countries – with Mr. Browne asserting that in the two months leading up to the amendment, only $600,000 had been generated from three new citizens, whereas neighbouring Dominica was earning $50 million per month through its $100,000 NDF program. Despite the enthusiasm surrounding the acceptance of cryptocurrencies on the part of Antigua and Barbuda’s ministers, Mr. Browne indicated that the government will convert all virtual currencies earned through the CIP into fiat currencies on a daily basis in order to “ensure that we have any exposure in cryptocurrencies.” Do you think that more countries will begin to accept cryptocurrencies in exchange for their citizenship programs? Share your thoughts in the comments section below Images courtesy of Shutterstock, Wikipedia At there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post You Can Become a Citizen of Antigua and Barbuda for Less Than 13 BTC appeared first on Bitcoin News.
Bitcoin News

Antigua and Barbuda’s Citizenship Can Be Bought with 12 Bitcoin or $100,000 USD Investment

You Can Buy An Antigua Citizenship With 12 BTC Are you interested in becoming an /antiguan Barbudian citizenship and you have a lot of BTC? We have good news for you, then, because for only about 12 BTC at the current price of the token, you will be able to become a citizen of this country. The Antigua and Barbuda’s Citizenship By Investment Program Act was recently amended by the country and now they accept Bitcoin as a way of payment. The new resolution was recently announced by the Prime Minister of the country and by the Minister of Finance and Corporate Governance & Public-Private Partnerships, Hon. Gaston Browne. The decision was made to attract Bitcoin investors who hold a lot of tokens. The price for buying a citizenship in the country is currently $100,000 USD and now the country has started to accept cryptos, as they are becoming more mainstream. They believe that by doing this, they will be able to reach more people around the globe. According to Browne, if you don’t accept crypto payments, you may lock out some of your clients outside of the market. Payments made in BTC will be immediately converted to USD to avoid future losses because of the high volatility of the market. Invest Or Contribute To be eligible to participate in the new program, you can choose if you want to invest in some business on the country or if you want to make a donation. To invest, you have to invest from $400,000 to $1,500,000 USD or you can make a single contribution of $100,000 USD in BTC to the National Development Fund. Additional amounts are required for people with dependents. The country has recently started many endeavours to create an environment that can be crypto-friendly. Last April, for instance, the country’s attorney general drafted a legislation that allowed government services to be paid for using Bitcoin. Another reason why the country is accepting Bitcoin now is because it is widely known as a tax haven, so the immutable nature of the blockchain technology would allow for transactions that could be traced, which could improve the image of the country. According to the Minister of Foreign Affairs, International Trade and Immigration, Everly Paul Chet Greene, the island is a leader and a trendsetter in the Caribbean, so accepting Bitcoin would further the reputation of the company.
Bitcoin Exchange Guide

Antigua and Barbuda to Set Up a Cryptocurrency Exchange

The government of Antigua and Barbuda has decided to set up a cryptocurrency exchange. Authorities in St. John’s want to generate revenue for the nation’s treasury and place the country “on the cutting edge of the new system of creating wealth”. The local parliament is set to review and adopt the relevant legal framework. Also read: How the Marshall Islands Sovereign Cryptocurrency Came About In the Front Seat Trying to cash in on the global fintech wave, Antigua and Barbuda plans to set up its first cryptocurrency exchange. The legislation needed to create the necessary legal framework is to be introduced in parliament shortly, the local Daily Observer reports. According to the Minister of Information Technology, Melford Nicholas, the exchange will bring together buyers and sellers facilitating crypto trade for a fee. The government expects that the trading platform will generate non-tax revenue for the budget of the island nation. An official statement reads: Antigua and Barbuda is determined to be on the cutting edge of the new system of creating wealth. “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,” Mr. Nicholas said. The IT Minister also revealed that Canadian-born businessman Calvin Ayre is one of those involved at the forefront of the new cutting edge technology. The online gambling entrepreneur, who is known for his enthusiasm for cryptos, especially bitcoin cash (BCH), is advising the Antiguan government on cryptocurrency matters. “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,” said Melford Nicholas. Last month Calvin Ayre announced intentions to build a $100 million resort at Valley Church beach, Antigua, with profits from his cryptocurrency undertakings. In January he said he was planning to invest in a mining facility dedicated to bitcoin cash. The new resort will accept BCH payments. Leader in Bitcoin Adoption In 2017, the government of Antigua and Barbuda said it was drafting laws “to implement bitcoin”, as reported. Antiguan authorities believe bitcoin is benefiting the Caribbean nation, whose economy relies heavily on the tourism and gambling industries. The online gaming sector has developed rapidly in recent years. Antigua and Barbuda is a sovereign state consisting of two major islands, and a number of smaller islands, situated between the Caribbean Sea and the Atlantic Ocean. It is a member of the Commonwealth of Nations. Authorities in the capital Saint John’s hope their country will become an early leader in bitcoin adoption and blockchain technology implementation. Do you agree that small independent nations have the best chance to become true leaders in bitcoin adoption? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Antigua and Barbuda to Set Up a Cryptocurrency Exchange appeared first on Bitcoin News.
Bitcoin News
More news sources


Hot news

Hot world news

OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts

The recent popularity Initial Exchange Offerings (IEO) have been experiencing over the last few months has brought what it appears to be like a new bull run. An incredible example of success is the OKB token issued by OKEx, one of the largest cryptocurrency exchanges by trading volume in the world, which has impressed the market beyond expectations having experienced an increase in the price of 163% since launched. Shinobi Capital, a leading blockchain advisory firm and also an investor in early-stage start-ups, has released its latest evaluation report estimating that the OKB price will grow further to US$30.75, 17 times the current price, by the end of 2020. According to Jason Hill, the founding partner of Shinobi Capital:  Exchanges tokens will be the powerhouse of the development of the digital asset market and even blockchain technology. Following a series of IEOs powered by exchange tokens in H1 2019, the market is marching to the next round of bull run. OKB, as a market leader of exchange tokens, is also welcoming its own uptrend. Backed by a number of use cases and a large user base of OKEx, OKB has demonstrated a huge potential of growth. The established blockchain and cryptocurrency advisory firm is well-known for its extensive experience in start-up investment. In their evaluation report of OKB, Shinobi Capital lays out the two most important factors that will affect OKB’s future trading volume, the development of the OKChain mainnet and the overall the crypto market condition. Furthermore, the report also establishes a comparative evaluation model with other major platform tokens, including Binance Coin (BNB), EOS, and TRON (TRX). This comparative evaluation studies different aspects of each token such as trading volume, price patterns, and usage demand. The latest OKB buy-back & burn program is also taken into account to evaluate the token’s future price trend. It is expected that by the end of 2020, the price of OKB will reach USD30.75 and its market capitalization will be about USD7.068 billion. There is a significant growth lag in OKB at this stage, and the potential of price growth needs to be further released. In the next round of market recovery and boom, OKB is likely to become one of the fastest-growing assets in the market. Disclosure: This is a sponsored press release The post OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts appeared first on NullTX.

Ethereum Classic presents roadmap to improve DApp development and overall infrastructure

Experts of the cryptospace are making use of DApp services to simplify the entire blockchain process. Along these lines, Ethereum Classic’s [ETC] core development team has put forth an initiative to revamp its existing ecosystem. Moving forward with an aspiration for refinement, ETC’s team is developing fresh features over blockchain technology, a development that will […] The post Ethereum Classic presents roadmap to improve DApp development and overall infrastructure appeared first on AMBCrypto.

David Marcus Grilled During Facebook's Senate Hearing

During the first of two congressional hearings regarding Facebook's Libra cryptocurrency, project lead David Marcus went as far as to say he'd be willing to take his salary in Libra after intense grilling from Senator Sherrod Brown.
Ethereum News

David Marcus Questioned Over Libra by Congress

Facebook is finally facing its reckoning as David Marcus, head of the company’s blockchain division and the leader of Libra, the venture’s new cryptocurrency, was grilled by Senate members who refuse to believe in Facebook’s allegedly noble financial plans. Libra: A Congressional Issue? Many people have a hard time believing in Facebook’s morality following the Cambridge Analytica scandal. Discovered in 2018, Facebook had allegedly been selling users’ private data for years to third parties for advertising purposes. Following Mark Zuckerberg’s Senate hearing last year, trust in Facebook has fallen to an all-time low. In many ways, this new “congressional step” for the social media conglomerate should serve as a huge learning experience. When you’re a company of Facebook’s size and you do anything to compromise the safety or privacy of your customers, you can bet it’s going to take a long time to earn their trust back. Facebook is learning this lesson in spades right now, as several Senators taking part in the hearing commented about the lack of trust they feel towards the company and its executive team. Sherrod Brown, a Democrat from the state of Ohio, commented:  Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. We’d be crazy to give them a chance to let them experiment with people’s bank accounts. Senator Martha McSally, a Republican from Arizona, stated that Facebook is simply trying to shift gears and get people to focus on something else entirely, in this case cryptocurrency. Rather than seriously attempt to fix its reputation, it’s working to divert people’s attention with an entirely new product. She says: I don’t trust you guys. Instead of cleaning up your house, you are launching into a new business model. In addition, Facebook is also being criticized for its complete lack of coordination with policymakers. Throughout the early development of Libra, Facebook’s executive team failed to make any contacts with regulators or legal authorities to potentially understand how the cryptocurrency could better satisfy present financial laws and terms.  Trust Takes a Long Time to Build At least David Marcus isn’t lying to himself. He acknowledged during the hearing that it would likely take a while before the company can earn people’s trust well enough that they would provide their banking details. He states:  I want to make it clear that we are only at the beginning of the journey. We expect the review of Libra to be one of the most extensive ever. Facebook will not offer the Libra currency until we have addressed the concerns and receive appropriate approvals… We will not control Libra and will be one of over 100 participants that will govern over the currency. We will have to gain people’s trust if we want people to use our network over the hundreds of competing companies. The post David Marcus Questioned Over Libra by Congress appeared first on Live Bitcoin News.
Live Bitcoin News

Waves CEO Has Sold His Stake At Vostok, A Waves Blockchain Affiliated Project

Alexander Ivanov, the founder, and CEO of Waves has recently decided to fully sell his stake of Vostok, blockchain spin-off of the Waves platform. According to a recent press release, now only the GHP Group, which bought all the stakes, will be the owner of the project. The CEO also affirmed on the press release that […]
Bitcoin Exchange Guide
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.