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Bahamas To Allow Citizens To Pay Taxes With Digital Assets
Citizens of the Bahamas will be able to pay taxes with crypto as well as having access to digital assets using the Sand Dollar.
Himanshu S.
4:11 21st Apr, 2022
Policy

The Government of the Bahamas published a white paper outlining the nation's digital asset strategy until 2026.

This year, the government will begin to allow Bahamians to pay taxes using digital assets.

It will also start enabling Bahamians’ access to digital assets using the Bahamas Sand Dollar, a central bank-issued digital currency launched in 2020.

"We have a vision to transform The Bahamas into the leading digital asset hub in the Caribbean," said Prime Minister Philip Davis.

The release of the white paper comes one week before the Crypto Bahamas conference that will be hosted by cryptocurrency exchange FTX. Guests include former U.K. Prime Minister Tony Blair, former U.S. president Bill Clinton and NFL quarterback Tom Brady.

FTX moved its headquarters to the Bahamas in September, 2021, with CEO Sam Bankman-Fried attributing the the move to a "progressive and forward-thinking crypto bill" that would regulate the industry in the region.

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