Sint Maarten, a country affiliated with the Kingdom of the Netherlands, has announced that it can legally accept Bitcoin Cash, a fork of Bitcoin. United People's Party Chairman Rolando Brison stated that they are working on a draft law for this. According to Brison, Bitcoin and NFTs will be exempted from capital gains.
Brison, who signed a first in history by agreeing to receive his salary in Bitcoin Cash last week, described Bitcoin Cash as an innovative and fast-growing crypto, while also defining it as a convenient trading, transaction and savings tool. The Party Chairman thanked Roger Ver, another BCH advocate in the country, for helping turn Sint Maarten into the cryptocurrency capital of the Caribbean region.
Bitcoin Cash price is $374.58 at the time of writing and a 24-hour trading volume is $2,055,099,983. BCH price is up 12.3% in the last 24 hours. There is a circulating supply of 19 Million BCH coins, with a total supply of 21 Million coins. FTX.US is currently the most active market for BCH trading.
Australia's largest bank wants to expand its crypto services
Australia's largest bank, the Commonwealth Bank of Australia (CBA), has started working to expand its crypto services. Sophie Gilder, Head of Blockchain and Digital Assets of the bank, said that they want to offer more crypto services to customers and are working towards that. Gilder also mentioned that the bank plans to double the number of employees on its Blockchain team.
Speaking at the Australian Blockchain Week conference, Gilder stated that users showed great enthusiasm for the initiative.
“Commonwealth Bank launched its crypto service in December, and the response so far has been mostly positive. The only complaint we had was from customers who had not yet been piloted.”