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St Kitts And Nevis Citizenship Program Closed To Bitcoins

by Mike Godfrey, Lowtax.net, Washington
18 July, 2014

In a recent statement, the St. Kitts and Nevis Government has announced that it does not accept, and has never accepted Bitcoins as payment under its Citizenship By Investment Program.

The statement goes on to say that the islands will be conducting an investigation with a view to revoking the licence of any practitioner promoting citizenship through the program in exchange for the crypto-currency.

The Government statement said: "The Citizenship by Investment Unit would like to assure the general public that we do not recognize Bitcoins as legal investment currency for financial transactions within our Citizenship by Investment Programme. We further emphasize that we do not accept Bitcoins, have never accepted Bitcoins, and will not accept Bitcoins."

This announcement follows the offering by at least one company in exchange for Bitcoins, and a subsequent Caribbean Community (CARICOM) communique highlighting the need for enhanced regulation to protect the reputation of such programs in the Caribbean.

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