An Act that will govern the use of blockchain technology has passed the Upper House of Parliament after being rejected last month.
Opposition Senator, Damani Tabor told debate on the bill that he was pleased to see that some of the recommendations have been implemented.
In a rare move, the senate sent the Digital Assets Bill back to the Lower House in May, citing a number of improvements to be made.
The Act will “regulate persons carrying on digital asset business and for the protection of the interests of clients or potential clients of persons carrying on digital asset business and to provide for other matters connected and related.”
Tabor wants support for persons wishing to get involved in the industry.
The bill which regulates the use of block-chain technology and the like, seeks to set out the definition of digital asset business and the activities that are considered as being engaged in a Digital Asset.
Meantime, the senate also passed new and updated Standing Orders replacing those first introduced in 1967.
These are the rules by which both houses of parliament are to be conducted.
Opposition Seantor Richard Lewis said he hopes members will adhere to the rules.
The new Standing Orders will regulate the LIVE broadcast of parliament, set out clearer definitions for “personal explanation’ and what a member must do in order to be allowed to make a statement under this caption among other areas.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
I am glad to see the government finally taking digital currency and blockchain seriously – but why has it taken so many years? We are only 5-10 years behind the curve now, LOL. Even 3rd world countries have already passed blockchain and digital currency laws 5 years ago…we are just doing it now?
This government needs to be move faster and get things done when it comes to new technologies. We need a more diverse economy and tourism is just a lazy economic industry for countries in the Caribbean.
Will the CIU now accept cryptocurrency as payment for fees, as they once said several years ago? I hope so.
Comments are closed.