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.
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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 participating in virtual asset services in the Federation are subjected to registration and…