Bahamas to Allow Citizens to Pay Taxes With Digital Assets

Residents will also be able to access digital assets with the sand dollar, the country's official digital currency.

AccessTimeIconApr 21, 2022 at 3:21 p.m. UTC
Updated Apr 29, 2022 at 5:23 p.m. UTC

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

The Bahamas government will allow Bahamians to pay taxes using digital assets, according to a white paper that outlines the nation's digital asset strategy until 2026.

  • The government will also start enabling Bahamians’ access to digital assets using the Bahamas sand dollar, a central bank-issued digital currency that was launched in 2020.
  • "We have a vision to transform the Bahamas into the leading digital asset hub in the Caribbean," Prime Minister Philip Davis said.
  • The release of the white paper comes one week before the Crypto Bahamas conference that will be hosted by cryptocurrency exchange FTX. Guests will include former U.K. Prime Minister Tony Blair, former U.S. President Bill Clinton and National Football League quarterback Tom Brady.
  • FTX moved its headquarters to the Bahamas last September, with CEO Sam Bankman-Fried attributing the the move to a "progressive and forward-thinking crypto bill" that would regulate the industry in the country.

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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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