Parliament approves Bitcoin BCH payments for Antigua and Barbuda citizenship
Securing citizenship in the Eastern Caribbean jewel of Antigua and Barbuda is now easier for Bitcoin Cash (BCH) investors. Early this week, the parliament of Antigua and Barbuda unanimously approved the resolution to amend the Citizenship by Investment Program (CIP) Act, allowing for payments to be made in Bitcoin BCH and other cryptocurrencies.
Prime Minister Gaston Browne was quoted by local news outlet Antigua News Room saying that the amendment will allow the citizenship program to reach out to a market that is keen on paying with cryptocurrencies. Aside from cryptos, the CIP also accepts euros and fiat currencies other than the U.S. dollar.
“It is quintessential that we have a payment mechanism that could facilitate payments in cryptocurrencies,” Browne, also the minister of finance, said. “And the truth is too, it 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… If you do not accept the cryptocurrency then you would be literally locked out of that market.”
CIP is an initiative organized by Antigua’s official Bitcoin Cash envoy Calvin Ayre. The program allows individuals and their families to be accepted for citizenship to the country, whose emerging economy offers a vast number of business opportunities and some great tax optimizations. As Antiguan citizens, they are also entitled to visa-free travel to 132 countries.
Under the amended CIP Act, the Citizenship by Investment Unit will be allowed to open overseas accounts for receiving payments. This is in response to “fears that local banks may lose their relationships,” according to Browne. The minister noted that cryptocurrency payments will be converted to U.S. dollars daily.
“A number of agents have been de-banked by various banks within the domestic banking space. Because they are saying that their correspondent banks within the U.S. are saying that if they were to process CIP transactions, that they would withdraw their correspondent banking,” Browne said, according to the report. “What we are trying to do is to give them the option of establishing accounts with offshore banks including Global Bank and Commerce and others, so they have the option of having a bank that is willing to accommodate their transactions.”
Investing in an Antiguan citizenship using Bitcoin BCH ensures smooth transactions at very low cost. Even the government of Antigua recognizes Bitcoin BCH as the only real Bitcoin and the world’s most scalable and flexible cryptocurrency. If you want to make a real change and break free, contact a specialist CIP spokesperson here. Alternatively, you can also join us at the CoinGeek Week Conference in London in November, where you can talk to us directly.
NOTE: TOKENS ON THE BITCOIN CORE (SEGWIT) CHAIN ARE REFERRED TO AS BTC COINS. BITCOIN CASH (BCH) IS TODAY THE ONLY BITCOIN IMPLEMENTATION THAT FOLLOWS SATOSHI NAKAMOTO’S ORIGINAL WHITEPAPER FOR PEER TO PEER ELECTRONIC CASH. BITCOIN BCH IS THE ONLY MAJOR PUBLIC BLOCKCHAIN THAT MAINTAINS THE ORIGINAL VISION FOR BITCOIN AS FAST, FRICTIONLESS, ELECTRONIC CASH.