{"id":27588,"date":"2019-05-02T12:51:58","date_gmt":"2019-05-02T16:51:58","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=27588"},"modified":"2019-05-02T12:51:58","modified_gmt":"2019-05-02T16:51:58","slug":"antigua-and-barbuda-to-establish-blockchain-technology","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/antigua-and-barbuda-to-establish-blockchain-technology\/","title":{"rendered":"Antigua and Barbuda to establish blockchain technology"},"content":{"rendered":"
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The Gaston Browne led administration has announced that it will be proceeding with plans\u00a0to establish blockchain technology in the country by enacting the necessary laws in Parliament.<\/p>

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\"\"<\/a>Speaking at a business forum earlier this week,\u00a0\u00a0<\/span>Browne said that special attention will be given to cryptocurrencies.<\/p>\n

\u201cWe would not allow fly-by-night speculators to come and exploit the space and to create any reputational damage to the country.\u201d<\/p>

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He said the government would also pass legislation to facilitate initial coin offerings, and this facility will be available for local entrepreneurs to raise capital outside Antigua and Barbuda.<\/p>

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He also spoke of legislative enactment to facilitate Real Estate Investment Trusts or REITs.<\/p>\n

The Prime Minister explained that since the offshore sector has been moribund, \u201cWe are no longer able to offer that low-tax incentive to foreign investors in which we charge a nominal tax of 1-2 percent. However, having international REITs, it\u2019s a well-established vehicle that we can utilize to offer a low rate of taxation as an incentive to attract international businesses, as well as facilitating local businesses operating in that space.\u201dHe also spoke of legislative enactment to facilitate Real Estate Investment Trusts or REITs.<\/p>

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Browne said that since the offshore sector is not flourishing \u2013 \u201cWe are no longer able to offer that low-tax incentive to foreign investors in which we charge a nominal tax of 1-2 percent. However, having international REITs, it\u2019s a well-established vehicle that we can utilize to offer a low rate of taxation as an incentive to attract international businesses, as well as facilitating local businesses operating in that space,\u201d he said.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

The Gaston Browne led administration has announced that it will be proceeding with plans\u00a0to establish blockchain technology in the country by enacting the necessary laws in Parliament. Speaking at a business forum earlier this week,\u00a0\u00a0Browne said that special attention will be given to cryptocurrencies. \u201cWe would not allow fly-by-night speculators to come and exploit the […]<\/p>\n","protected":false},"author":3,"featured_media":27199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,72],"tags":[],"class_list":["post-27588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-technology"],"yoast_head":"\nAntigua and Barbuda to establish blockchain technology - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/antigua-and-barbuda-to-establish-blockchain-technology\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Antigua and Barbuda to establish blockchain technology\" \/>\n<meta property=\"og:description\" content=\"The Gaston Browne led administration has announced that it will be proceeding with plans\u00a0to establish blockchain technology in the country by enacting the necessary laws in Parliament. 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