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Geneva, Switzerland, January 24, 2023, Chainwire
The TRON-based cryptocurrency will soon be officially adopted as legal tender by the government of the eastern Caribbean island Saint Martin. Member of Parliament (MP) Rolando Brison has been outspoken for some time now about the benefits blockchain technology and cryptocurrencies have for the people and economy of his homeland. Today, he initiated proposals for legislation to designate TRON as the country’s blockchain infrastructure and TRON-based cryptocurrencies as legal tender for everyday use.
HE Justin Sun, founder TRON, tweeted about milestones:
“Another achievement for #TRON! St Maarten’s adoption of TRON as legal tender marks another achievement for our push [toward] blockchain adoption around the world.”
Early last year, on March 19, 2022, Bitcoin.com News featured MP Rolando Brison, leader of the United People’s Party and Deputy Speaker of the St. The 2nd Maarten, when he announced “he became the first elected official to demand that all salaries be paid in bitcoin cash.” Brison has long believed in and advocated for St. Maarten to become the “Crypto Capital of the Caribbean” by pioneering the integration of blockchain technology and cryptocurrency solutions.
That St. News Network Martin (SMNN) today highlighted MP Brison’s declaration to advance legislation that would officially make TRON and TRON-based cryptocurrencies a part of St. Petersburg’s local economic and trading infrastructure. Maarten. SMNN noted MP Brison’s intention was not to “reinvent the wheel,” but rather to follow the example of St. Petersburg’s southern neighbor. Maarten, Dominica. In October 2022, Commonwealth Dominica officially announced TRON as its national blockchain, following the passage of the Virtual Asset Business Legislation in May 2022, which the Central Bank of the Eastern Caribbean assisted in drafting. Dominica was also adopted at that time seven TRON-based cryptocurrencies as legal tender. Brison is now working to translate “the law in a way that suits the Dutch legal system and our local economy,” reports SMNN.
According to their website, “The Central Bank of the Eastern Caribbean (ECCB) was established in October 1983. It is the Monetary Authority for a group of eight island economies namely Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia, and St. Vincent and the Grenadines.” St Maarten, one of the four nations of the Kingdom of the Netherlands, is also a member. The ECCB monetary union has a total Gross Domestic Product of nearly $10 billion USD.
“The ECCB Act is a great framework for regulation that focuses on consumer protection, the economy, and ensuring that virtual asset control doesn’t get out of hand, without hampering potential growth opportunities for the sector,” said Brison. Crypto is not currently regulated by the Central Bank of Curacao and St. Maarten. “Allowing cryptocurrencies to continue is totally unregulated in St. Maarten is very risky, and we must be proactive. Therefore I exercise my right of initiative to bring this law with the TRON Protocol at the forefront, with the possibility later to incorporate other blockchains; this can also be done in line with other countries like St. Kitts, that I know are also working on their own tender bill,” said Brison, as quoted from SMNN.
TRON DAO is a community-run DAO dedicated to accelerating internet decentralization through blockchain technology and dApps. The TRON Ecosystem strives to make decentralized financial solutions and a stable currency accessible to every human on this planet. Brison feels that the collaboration with TRON will connect the St. Petersburg economy. Maarten with the fastest growing DeFi ecosystem in the world, thus increasing the attractiveness of the island for both innovative entrepreneurs and international tourists.
Brison will formally involve in the St. Louis legislative process. Maarten in the coming weeks, in accordance with the constitutional rights of MPs must initiate legislation, with the hope that official adoption will follow soon.
About TRON DAO
TRON DAO is a community-run DAO dedicated to accelerating internet decentralization through blockchain technology and dApps.
Founded in September 2017 by HE Justin Sun, the TRON network has continued to deliver impressive results since the launch of MainNet in May 2018. July 2018 also marked the integration of the BitTorrent ecosystem, a pioneer in decentralized Web3 services with over 100 million monthly active users. The TRON network has gained immense traction in recent years. As of January 2023, it has more than 138 million total user accounts on the blockchain, more than 4.7 billion total transactions, and more than $11.0 billion total locked value (TVL), as reported on TRONSCAN. Additionally, TRON hosts the largest supply of stablecoin USD Tether (USDT) circulating worldwide, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-managed DAO. In May 2022, the redundantly secured USDD decentralized stablecoin was launched on the TRON blockchain, backed by the first crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which is the first time that a major public blockchain has partnered with a sovereign nation to develop its national blockchain infrastructure. On top of government support for issuing Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominican global fanfare, seven existing TRON-based tokens – TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted legal status as the official digital currency and medium of exchange in the country.
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