Bahamas may allow residents to pay taxes with crypto
The new policy could further accelerate the adoption of digital assets in the country
By Shashank Bhardwaj
A white paper that outlines the Bahamas' digital asset strategy until 2026 indicates that residents of the country may soon be able to pay taxes with digital assets.
Bahamas’ Office of Prime Minister Philip Davis stated the government would begin to "enable payment of taxes using digital assets" by working with the country's central bank and the private sector, in a white paper titled "The Future of Digital Assets in The Bahamas," which was released on Wednesday, April 20. The government also intends to make it easier for people to buy cryptocurrency with Bahamian dollars and promote the use of the Sand Dollar, a central bank-issued digital currency that was launched in 2020.
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