The government of the island nation of Antigua and Barbuda in the Caribbean sea, decided to create their own cryptocurrency exchange. The authorities want to get revenue for the state Treasury and place the state «at the forefront of the new system of making money.» The local Parliament intends to consider and adopt the relevant legislation.
Trying to catch the global wave of development of the FINTECH industry, Antigua and Barbuda plans to open a state of the cryptocurrency exchange. Laws that will provide the necessary legal basis, needs to be presented to Parliament in the near future, reports the Daily Observer.
According to the Minister of information technology, Melford Nicholas (Nicholas Melford), the exchange will bring together buyers and sellers who will make cryptocurrency transactions for a fee. The government expects that the trading platform will generate non-tax revenues for the budget of the island state, a basic income which is now provided by tourism and gambling. The official statement reads:
«By creating a private exchange, we will make Antigua a significant player in the cryptocurrency industry. Since there is a possibility to earn money, we should use it,» said Nicholas.
Minister of information technology also announced that canadian businessman Calvin Eyre (Calvin Ayre) is one of those involved in the new project. The entrepreneur who made his fortune on the promotion of online gambling, known for his enthusiasm for cryptocurrencies, in particular Bitcoin Cash (BCH), advises the government of Antigua on cryptocurrency issues.
«Calvin Ayr, was appointed Commissioner for economic Affairs, and now is a citizen of Antigua and Barbuda. We believe that each party can benefit from this cooperation», said Melford Nicholas.
Last month Calvin Eyre announced plans to build a resort worth 100 million dollars on the beach and valley Church in Antigua at the expense of profits from cryptocurrency investments. It is reported that the new resort will host a BCH. In January, the air also said it plans to invest in a mining company specializing in Bitcoin mining Cash.