Antigua hoping to attract high paying jobs with cryptocurrency exchange

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A representative of Kession Capital Limited, managers of Gibraltar’s Crypto-currency Exchange, traveled to Antigua for the purpose of making a presentation to encourage the establishment of a similar Crypto-currency Exchange here.

Cryptocurrencies are being traded and used as legal tender for the purchase of goods and services in many countries around the world, utilizing the blockchain technology that high-speed computers have made possible.

According to the government, the presentation focused on the number of high-paying jobs that will be created, the presence of Antigua and Barbuda among an exclusive number of states with such an Exchange, and the number of high-net-worth individuals that will be attracted to Antigua and Barbuda were such an Exchange brought into existence.

“The company also foresees tax revenues flowing to the government from the Exchange that could be dedicated to financing the university at Five Islands,” a Cabinet statement said.

The Cabinet has asked the principal of Kession Capital Limited to return with the legislation that currently governs in the existing states, especially Gibraltar.

Antigua and Barbuda is currently reviewing draft legislation intended to allow cryptocurrencies to be lawfully utilized here.

The Economic Commission for Latin America and the Caribbean (ECLAC) has encouraged the states of the Americas to pursue the benefits which these new currencies afford member-states.

The Eastern Caribbean Currency Union is also examining the possibilities for itself and for member-states.

Calvin Ayre, one of the largest investors in Antigua and Barbuda, is also planning to establish a similar Exchange and is awaiting the draft legislation/regulations that will guide the process.

A decision has already been made to accept cryptocurrency as payment for the fourth option under the CIP program—the payment of US$150,000 for contribution into an endowment to finance the operation of the university at Five Islands—when the law is amended.

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2 COMMENTS

  1. We’re moving on into the 22nd century. Who do not want to come on board will be left behind. See ya

  2. We who?

    we not even in the 20th century yet much less

    you betta stay on the sideline cuz exchanges need running water and stable electricity and internet none of which can be found in antigua

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