Bahamas to let residents pay taxes with cryptos in effort to achieve 'digital asset hub' goal

The Bahamas will allow residents in the country to pay taxes with cryptocurrencies, the Bahamas' Office of The Prime Minister said in a white paper Thursday. "We have a vision to transform the Bahamas into the leading digital asset hub in the Caribbean," said Prime Minister Philip Davis. As part of its efforts to streamline the use of digital assets in the nation, the Bahamas government will also allow residents to access cryptos using the Bahamas sand dollar, one of the first central bank digital currencies launched in 2020. The move comes shortly before crypto exchange FTX presents the Crypto Bahamas event starting on April 26 at the Baha Mar resort in Nassau. Looking at the two largest digital tokens by market cap, bitcoin (BTC-USD -0.5%) is edging lower to $41.22K in afternoon trading and ethereum (ETH-USD -2.0%) is slipping to $3.02K. In mid-February, Colorado Governor Jared Polis said the state will