Bitcoin Cash could become legal tender on St. Maarten
Sint Maarten, a Constituent Country of the Kingdom of the Netherlands, Could Make Controversial Bitcoin Fork Legal Tender
Sint Maarten, a country that is part of the Kingdom of the Netherlands, could make Bitcoin Cash, the most prominent fork of Bitcoin, legal tender.
Rolando Brison, the head of the United People’s Party, says he has already started investigating such a bill.
Bitcoin and non-fungible tokens would also be exempt from capital gains, according to Brison.
Last week, Brison also became the world’s first elected official to accept his salary in the Bitcoin Cash cryptocurrency. He described the Bitcoin fork as “innovative” and “fast growing”.
Brison thanked Roger Ver, Bitcoin Cash’s most prominent advocate, for helping make St. Maarten the cryptocurrency capital of the Caribbean region.
Legislator Sees Bitcoin Cash as “A Viable Complementary Resource for Trading, Transactions, and Savings”
A much needed adoption boost
Bitcoin Cash, which was once one of the largest cryptocurrencies by market cap, slowly slipped into irrelevance during the 2021 bull run and failed to gain any traction to overtake other old-timers. Ver has been eerily quiet on Twitter for almost a year now.
The price of Bitcoin Cash is up 20% in the past week, outperforming every major altcoin (except Avalanche).
The controversial Bitcoin fork is down a whopping 91.03% from its all-time high of $3,785.82, recorded all the way back in December 2017. It is currently changing hands for $338 on spot exchanges.
Ethereum co-founder Vitalik Buterin recently admitted that Bitcoin Cash was “mostly a failure” after calling it “a legitimate contender” for the Bitcoin name in 2017.