The Caribbean nation of St. Kitts and Nevis could declare a legal tender of Bitcoin Cash (BCH) by March 2023. Prime Minister Terrance Drew made the announcement while speaking at the Bitcoin Cash Conference 2022 in St. Kitts on 12 November.
Saint Kitts and Nevis is a member of the Eastern Caribbean Central Bank and is part of the ECB’s DCash central bank digital currency (CBDC) program, which was launched in March 2019. always the leader of our nation. in exploring new technologies that can advance our people,” said Drew, adding:
“I can confirm that we are ready to explore this possibility with advice from experts and professionals and after consulting our regional banking system. […] I welcome the opportunity to engage in further dialogue to explore future possibilities of entering into a bitcoin cash minijg and a bitcoin cash legal offering here in St. Louis. “.
Bitcoin Cash was created from Bitcoin (BTC) in the fork of 2017. The DCash program had technical issues that prevented its adoption. In addition to introducing new competition to DCash, the Caribbean nation could be considering replacing it. Sint Maarten MP Rolando Brison spoke after Drew and expressed his support for Bitcoin Cash and his opposition to CBDC.
Also read: Bitcoin Policy Institute advocates for bitcoins and stablecoins at the expense of CBDC!
Brison opposed the CBDC, which he considers “too big a risk to contemplate”. He said :
“I like that, in our jurisdiction, the central bank was at least open enough to say and admit, ‘We don’t have the capacity to monitor and arrest and promote and protect something like this. […] If they cannot properly regulate the banking sector, […] why would I give them a massive mandate now to do something they have no idea about? […] It is the legislator who should have a say in what happens in the regulations. “.
That has just been announced by the Prime Minister of Saint Kitts and Nevis #BitcoinCash a country by March 2023. A big step for BCH because no nation can outlaw the currencies of other nations. Here’s to massive use with great new apps. pic.twitter.com/WjnaZxGv50
—Kim Dotcom (@KimDotcom) November 13, 2022
The Prime Minister of Saint Kitts and Nevis has just announced that #BitcoinCash will be legal tender in his country by March 2023. A big step for BCH as no nation can make another nation’s currencies illegal. The next step is mass use with great new apps. pic.twitter.com/WjnaZxGv50- Kim Dotcom (@KimDotcom) November 13, 2022