RATE Group | Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gai…
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Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gai…

07 Feb Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gai…

Posted at 05:53h in Bitcoin News by

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Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption

The island country of Saint Kitts and Nevis, located in the West Indies, recently passed a bill that legalizes digital currency assets like bitcoin cash. The act is cited as the Virtual Asset Bill 2020 and it aims to provide the regulation of cryptocurrencies for Saint Kitts and Nevis businesses and residents.

Also Read: IOTA, EOS, XLM, ADA – 4 ‘Bitcoin Contenders’ With Zero Use Cases and Barely Any Infrastructure

Federation of Saint Kitts and Nevis Passes Virtual Asset Bill 2020

Saint Kitts and Nevis Financial Services Regulatory Commission have established the new Virtual Asset Bill 2020 within the Federation of islands. The bill was created to apply regulatory frameworks to cryptocurrencies used in the region. The two islands represent a Commonwealth realm and the country’s decision follows a similar bill enacted in Antigua in 2018. Prime Minister Dr. Timothy Harris told regional press that the new bill will “ensure that each provider…

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