Cryptocurrencies could not compete with fiat money, or so it was believed. With the adoption of the last few years, more and more nations are advocating the crypto world as a financial alternative and, after Bitcoin is legal tender in El Salvador and the Central African Republic, Tron wants to follow suit.
The protocol that supports TRX has recently reached its first agreement with Dominica, allowing it to help launch the national stablecoin, Dominica Coin. The small commonwealth of the Atlantic Ocean wanted to position itself as a "financial benchmark" and, after this, St. Maarten also wants to be up-to-date in economic terms.
For this and much more, now the parliamentary leader of the United People's Party, Rolando Brison, announces that the capital of Philipsburg will soon adopt TRX as legal tender. The initiative seeks to follow in Dominica's footsteps and, in Brison's words, this could expand the crypto landscape in St. Maarten.
Cryptocurrencies have long since arrived in the nation, although according to the statement, the Central Bank of Curacao and St.Maarten have not created proper regulations. For the parliamentary leader, this initiative is the first step to start regulating the crypto world, since allowing cryptocurrencies “to continue totally without regulation is extremely risky,” he maintains.
"I use my right of initiative to bring this law with Tron Protocol at the forefront, with possibilities later for other blockchains to be incorporated", stated Brison.
The capital of Philipsburg will incorporate Tron as “its preferred blockchain infrastructure”, as stated by Brison. The regulations of this initiative will be subject to the provisions by National Decree, which means that the government authorities will be the ones who decide when is the best moment "to enter into effect".
Until then, the Ministry of Finance will continue to educate and train on blockchain technology, and in the meantime, Brison expects the initiative to see the light of day in the coming weeks, in line with constitutional law.
This is a big step for Tron, but also for the crypto world. The initiative comes like a firefly in the most fearful darkness, good news given the collapse of confidence indices. It seems that there are still places that bet on the crypto world and St. Maarten wants to be one of them.