Blockchain and Crypto Currency Taskforce in Curaçao

Initiated by the Curaçao International Financial Services Association (CIFA) in consultation with the government departments of Economical Development and of Finance, a Curaçao Blockchain and crypto currency Taskforce has been established.

This taskforce is represented by various disciplines active in the Curaçao international financial sector such as (tax-) lawyers, auditors, representatives of the Dutch Caribbean Stock Exchange (DCSX) and crypto currency specialists.

Both CIFA and the Curaçao government are of the opinion that the current developments in the crypto currency space, which is facilitated by block chain technology, can create significant economic opportunities for Curaçao beginning with the international financial service sector.

Providing relevant legislation and regulatory clarity is crucial in order to benefit from those opportunities by making Curaçao an attractive jurisdiction for blockchain related startups, service providers, funds, exchanges and other companies active in this innovative sector. This will lead to growth, using as stepping stones the country´s unique assets including a multilingual population, excellent internet connectivity, and decades of experience in international financial services.

The main near-term objective of this taskforce is to provide the relevant governmental bodies/ regulators with concrete suggestions on a legislative and regulatory framework via which Curaçao will be very favorably positioned in this innovative new sector. These is a clear sense of urgency given the speed of developments in the blockchain space, and thus the taskforce expects to provide a suggested framework by the end of March 2018.

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