- Tron tokens are now accepts as a means of exchange in Dominica.
- Tron native token is now accepted as Public payments including Tax, Business for their services.
Tron, the leading blockchain network, has signed a deal with the Dominican government to make Tron-native coins payable on the Caribbean island. On October 12, Tron founder Justin Sun announced that Tron tokens, including TRX, BTT, JST, NFT, USDD, USDT, and TUSD. Are now accepts as a means of exchange in Dominica.
It is official! All #TRON cryptos including #TRX #BTT #JST #NFT #USDD #USDT #TUSD are granted statutory status as authorized digital currency and medium of exchange in the commonwealth of Dominica effective on October 7th 2022 🇩🇲 https://t.co/p97zJkzhUe pic.twitter.com/kbejwXrkXt
— H.E. Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) October 12, 2022
Tron to Initiate the Dominica Coin
As per the government crypto ordinance, Tron native token is now accepts as Public payments including Tax, and Business for their services. The government has said that the exchange rate between Tron crypto and the East Caribbean Dollar (XCD) will set by the market. And transactions between the two assets will be tax-free.
Tron is also planning to produce Dominica currency (DMC), a blockchain-based fan token. To “help boost Dominica’s global renown for its natural heritage and tourism attractions.”
Dominica’s Prime Minister Roosevelt Skerrit said that
“The open and cost-effective nature of the TRON blockchain infrastructure will play a vital role. To better integrate small island developing states like Dominica into the global economy in the future.”
Justin Sun resigned as CEO of Tron Foundation at the end of 2021 to promote crypto adoption in poor countries, beginning with the Caribbean. In December 2021, Justin Sun was appointed as Grenada’s ambassador to the World Trade Organization. And focus on crypto advocacy may result in the WTO realizing the value of blockchain technology, which will assist the whole sector.
Justin Sun said that given the correct training, nations like Grenada may witness a faster rate of crypto adoption. Than international powers like the United States, which still has conservative views on crypto.
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