By March 2023, St. Kitts and Nevis, a country in the Caribbean region, may have legalized Bitcoin Cash. Prime Minister Terrance Drew made the declaration in his remarks on November 12 at the Bitcoin Cash 2022 conference that took place in St. Kitts.
As a participant in the Eastern Caribbean Central Bank’s (ECCB) DCash central bank digital currency (CBDC) initiative, St. Kitts and Nevis joined the ECCB in March 2019. However, Drew said, “Our nation has always been a forward-thinking nation and a leader in exploring new technologies that can advance our people.” Furthermore, he added:
“I can confirm that we are prepared to explore that possibility with the guidance of experts and professionals and after consultation with our regional banking system. […] I welcome the opportunity to dialog further with a view to exploring future opportunities to engage in Bitcoin Cash mining and making Bitcoin Cash legal tender here in St. Kitts and Nevis by March 2023, once safeguards to our country and our people are guaranteed.”
About Bitcoin Cash
While Bitcoin Cash is one of the more established alternatives to Bitcoin as a payment token, it is still far less well-known outside the crypto world and is now the 27th largest crypto by market capitalization. In addition, its value has plummeted in the past year, falling by about 85% from $667 to its present level of $104, like practically all cryptos.
What more?
The government stated that problems with citizen security and financial safety needed to be resolved.
The group of islands would join nations that support using cryptos as payment, like El Salvador and the Central African Republic (CAR).
