Parliament is to pass the necessary law to make use of the Digital Eastern Caribbean Dollar Possible by April.
The lawyer from the Ministry of Legal Affairs who had the responsibility for drafting certain legislation, destined to become law sometime following the Parliamentary Session next Tuesday, March 17, 2020, was invited to Cabinet to provide an insight into the intricacies of the draft.
The Digital Asset Business Bill 2020 will make the law of Antigua and Barbuda comport with the Eastern Caribbean Central Bank (ECCB) governing regulations, that will see the launch of the ECCB digital coin in April 2020. All ECCU countries will be required to adjust their legislation to allow for alignment with the ECCB initiative.
Several elements are to match the law as has been adopted by St. Kitts and Nevis. Crypto currency is therefore to be made legal tender; those who operate exchanges are to be required to have a physical presence in Antigua and Barbuda. The details are to be discussed in Parliament and the draft circulated tomorrow, or before March 17 2020.
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