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Bahamas to Allow Citizens to Pay Taxes With Digital Assets
Residents will also be able to access digital assets with the sand dollar, the country's official digital currency.
Updated May 11, 2023, 5:07 p.m. Published Apr 21, 2022, 3:21 p.m.
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The Bahamas government will allow Bahamians to pay taxes using digital assets, according to a white paper that outlines the nation's digital asset strategy until 2026.
- The government will also start enabling Bahamians’ access to digital assets using the Bahamas sand dollar, a central bank-issued digital currency that was launched in 2020.
- "We have a vision to transform the Bahamas into the leading digital asset hub in the Caribbean," Prime Minister Philip Davis said.
- The release of the white paper comes one week before the Crypto Bahamas conference that will be hosted by cryptocurrency exchange FTX. Guests will include former U.K. Prime Minister Tony Blair, former U.S. President Bill Clinton and National Football League quarterback Tom Brady.
- FTX moved its headquarters to the Bahamas last September, with CEO Sam Bankman-Fried attributing the the move to a "progressive and forward-thinking crypto bill" that would regulate the industry in the country.
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Crypto PAC Fairshake leaps into first midterm Senate race with $5 million in Alabama
The industry's leading campaign-finance operation is getting behind a pro-crypto candidate, Barry Moore, in Alabama's Republican Senate primary.
What to know:
- The crypto industry's campaign-finance arm is flexing with an opening $5 million for a Republican Senate primary election in Alabama as the congressional midterms — still nine months away — begin in earnest.
- Fairshake and its affiliate political action committees say they've got $193 million to spend, so far, which dwarfs most industry PACs and even some of the largest funds directly serving the political parties.
- Alabama congressman Barry Moore will receive supportive advertising with this money, and a Fairshake representative said the group has also dedicated funds to back Representative French Hill, the chairman of the House Financial Services Committee.
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