Virgin Islands are going to introduce their own cryptocurrency

The Virgin Islands, part of the UK, decided to launch their own cryptocurrency. According to Forbes, now the main currency in their territory is the US dollar. It is planned that a token will be equal to the dollar. The authorities together with Lifelabs have already begun to work out a plan for the development and implementation of innovations.

The Virgin Islands has one of the most loyal legislation in relation to cryptocurrency. They registered Tether and Bitfinex – popular digital currency and trading platform. Due to this, the Virgin Islands are becoming one of the most well-known cryptocurrency markets.

Since January 1, at the request of the European Union, the norms of the foreign firms economic presence have entered into force on the territory of the islands. This should limit the opening of one-day companies.