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Justin Sun, a Grenada diplomat, wants TRX, a native of Tron, the smart contract platform he co-founded, adopted as legal tender in at least five countries within a year.
Sun hopes TRX adoption will trigger global acceptance of crypto as legal tender
In a series of tweets posted on his official account, Sun stated that his key performance indicator (KPI) for the new year is to see TRX widely accepted and used as legal tender in no less than five jurisdictions.
Sun, who also advises Huobi, a crypto exchange, expressed hope that adopting TRX as legal tender would see more cryptocurrencies receive legal recognition around the world. He admits that his goal is ambitious, but shares his belief that the TRON team can make it happen through “hard work and dedication”.
The Grenadian Representative to the World Trade Organization (WTO) said that adopting TRX as legal tender would facilitate trade in goods and services and promote greater inclusivity and equity for financially marginalized populations.
Sun warns against people focusing too much on the United States while working towards TRX’s legal tender status. While he acknowledges the importance of United States regulation and its effect on crypto, Sun points out that the more than 8 billion people on this planet also need to be served.
The founders of TRON believe that if the entire world adopts crypto as legal tender, the United States, which comprises around 3% of the world’s population, will eventually follow suit. He said that crypto can be a powerful tool for financial inclusion, so there is a need to educate the public and create partnerships with governments and private institutions to promote its adoption. Therefore, Sun advocates a global approach to create greater crypto acceptance.
TRX is already legal tender in Dominica
Recently, legislators on the small Caribbean island of Sint Maarten proposed officially adopting Tron as the country’s official blockchain infrastructure and TRX as legal tender.
The chairman of the United People’s Party (UPP) and second deputy speaker of the Sint Maarten parliament, Rolando Brison, put forward the proposal. The lawmaker has long been an outspoken supporter of the advantages of blockchain technology and cryptocurrencies for the island nation’s citizens and economy.
Brison is reportedly working on proposing to suit the Netherlands-based country’s local legal and economic system.
In October 2022, Sint Maarten’s southern neighbor, Commonwealth of Dominica, officially adopted seven TRON-based tokens as legal tender. The country has also adopted TRON as its designated blockchain infrastructure.
Earlier that year, Dominica passed a law governing the virtual asset space that it co-authored with the Central Bank of the Eastern Caribbean (ECCB).
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