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Does Antigua and Barbuda have the best blockchain regulation?
Does Antigua and Barbuda have the best blockchain regulation?
Regulation

Does Antigua and Barbuda have the best blockchain regulation?

By Amelia Tomasicchio - 1 Oct 2020

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Antigua and Barbuda‘s new digital assets law makes this country the most blockchain-friendly in the world, at least according to H.E Dr Dario Item, the Ambassador in Spain, Monaco and Liechtenstein.

Indeed, he said: 

“Security has always been paramount for the government. This was proven during the onslaught of COVID-19 wherein our basic services sectors were able to hold their own and keep the infections at a minimum number, practically almost zero active cases”.

H.E Dr Dario Item is a lawyer who has also worked in Switzerland and Italy. With this resume, he was able to say that in his opinion the government of Antigua and Barbuda took the right steps when it decided to create a draft to regulate blockchain and digital assets.

For this reason, he is also confident that this new regulation will lead to strong growth in the country:

“There could not have been a better timing. Companies looking to establish themselves in territories with clear regulations in terms of how digital assets can now turn to Antigua and Barbuda as one of the Blockchain-friendly countries”.

Blockchain regulation in Antigua and Barbuda

Last May, the House of Representatives of the country passed their own crypto-friendly draft law.

The 41-page document, entitled “The Digital Assets Business Bill 2020”, was designed to help clarify regulation and give a strong boost to the sector in the country so that it can bring a breath of fresh air to the economy, bringing in new companies.

However, in the case of crypto exchanges, they will still have to obtain a licence to operate. And companies that do not get a licence will be fined $250,000.

Anyway, precisely because Antigua and Barbuda claims to be crypto-friendly, Calvin Ayre of Bitcoin SV has invited countries to take part in the online CoinGeek event that is being held these days to understand the possible applications of the Bitcoin Satoshi Vision blockchain.

Calvin Ayre said:

“I see how Bitcoin technology can empower people to create previously unimaginable innovations with this technology. It can help make our world a better place”.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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