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HomeDigit NewsThe Bahamas will allow its citizens to pay taxes with cryptocurrency

The Bahamas will allow its citizens to pay taxes with cryptocurrency

The Government of the Bahamas has published document, which outlines the national strategy for digital assets until 2026. The document will be officially released a week before the Crypto Bahamas conference, which will be hosted by the FTX cryptocurrency exchange.


Conference guests will include former British Prime Minister Tony Blair, former US President Bill Clinton and a National Football League defender Tom Brady.

Already this year, 2022, the government will begin to allow Bahamians to pay taxes using cryptocurrencies.

Regulators will also provide citizens with access to digital assets using the central bank’s Bahamas Sand Dollar digital currency.

We have a vision to make the Bahamas the leading digital asset hub in the Caribbean,” Prime Minister Philip Davis said.

It is worth noting that the Bahamas released their own cryptocurrency (CBDC) called the Sand Dollar back in 2020. Its rate is pegged to the rate of the Bahamian dollar, which, in turn, directly depends on the American currency.

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