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- The Caribbean seems to be quite optimistic about cryptocurrencies, specifically Bitcoin Cash (BCH).
- A parliament member and UP Party leader Ronaldo Brison recently highlighted how he became the first elected official to get all his salary via the asset class.
- He along with the government is making several efforts in terms of cryptocurrencies and thinks of it as an innovation.
The Caribbean is very much inclined towards the adoption of cryptocurrencies. On one hand last year, El Salvador became the first sovereign nation to adopt Bitcoin (BTC) as a legal tender, on the other hand, the Caribbean is much interested in Bitcoin Cash (BCH).
Data indicates that several merchants in the Caribbean accept Bitcoin Cash for goods and services. Very recently, a member of St. Maarten’s Parliament and the leader of the United People’s Party, Ronaldo Brison announced that he is receiving all his salary via Bitcoin Cash.
The government official is quite optimistic about cryptocurrencies and believes that St. Maarten should continue with the ever-evolving phenomenon of crypto. He insisted during an announcement that he had requested the finance minister of St. Maarten, Ardwell Irion to give him updates on plans on utilizing blockchain technology in the government.
According to Brison, he believes that St. Maarten can be the crypto capital of the Caribbean if they continue to innovate and embrace cryptocurrencies and all the benefits of blockchain technology.
The St. Maarten’s elected official told her Twitter follower base that he is the first government to get his entire salary via payments in crypto assets.
According to his Tweet, he becomes the first elected official in the world to have his entire salary paid in Bitcoin Cash, as their country moves more and more to making use of cryptocurrency and blockchain.
During the announcement, Brison highlighted that last year during a conference, St. Maarten’s finance minister said that crypto and blockchain adoption was a priority area for research. Brison mentioned that he praised the minister’s idea of shifting to innovation.
Brison further explained that while they need to improve their legacy forms of commercial banking through his proposed consumer banking legislation, they simultaneously need to create legislation to make the transactions via cryptocurrencies more effective and worthwhile in St. Maarten.
He also highlighted that he has started to explore the legislation to make BCH a legal tender and also aims to get BCH and NFTs transactions exempted from capital gains tax in the country.
As the crypto industry is growing by leaps and bounds, more and more nations and entities are realizing its potential, it is to look forward to what would happen in St. Maarten and the whole world in terms of the asset class.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
