Saint Kitts passes a law legalizing virtual currency and bitcoins

The government of Saint Kitts passed a bill to legalize bitcoins and virtual currency to simplify business.

The Virtual Assets Bill received overwhelming support from MPs and was subsequently passed.

Learn more about Saint Kitts and Nevis Citizenship by Investment Program

Prime Minister and Minister of Finance Timothy Harris said the 2020 Virtual Assets Bill will ensure that every provider involved in virtual asset services in the Federation is subject to a registration and control regime that would comply with existing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) in Saint Kitts and Nevis and, accordingly, meets international standards established by the Financial Action Task Force (FATF).

In 2018, Antigua legalized bitcoins and other cryptocurrencies in an attempt to turn the island into a cashless society.

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