St. Maartens MP Rolando Brison Introduces Legislation to Legalize TRON-Based Crypto

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Geneva, Switzerland, January 24, 2023, Chainwire

The TRON-based cryptocurrency may soon be officially adopted as legal tender by the government of the Eastern Caribbean island of St. Maarten. For some time now, MP Rolando Brison has been talking openly about the benefits of blockchain technology and cryptocurrency for the people and economy of his native country. Today, he launched the proposal for a law to designate TRON as the country’s blockchain infrastructure and TRON-based cryptocurrency as legal tender for everyday use.

HE Justin Sun, Founder of TRON, tweeted about this milestone:

Another milestone for #TRON! St Maarten’s adoption of TRON as legal tender marks another achievement for our push [toward] global blockchain adoption.

Early last year, on March 19, 2022, Bitcoin.com News featured MP Rolando Brison, leader of the United Peoples Party and 2nd Vice Speaker of St. Maarten’s Parliament, when he announced he was became the first elected official to demand his full salary. paid in bitcoin cash. Brison has long believed and advocated for St Maarten to become the crypto capital of the Caribbean by pioneering the integration of blockchain technology and cryptocurrency solutions.

The St. Martin News Network (SMNN) today highlighted MP Brisons’ statement to advance legislation that would officially make TRON and TRON-based cryptocurrency part of the local commerce and economic infrastructure of St. Maartens. SMNN noted MP Brisons’ intention not to reinvent the wheel, but rather to follow the lead of neighboring Dominica to the south of St. Maarten. In October 2022, the Commonwealth of Dominica officially announced TRON as its national blockchain, following the passage of virtual asset legislation in May 2022, which the Eastern Caribbean Central Bank helped draft. Dominica also adopted seven TRON-based cryptocurrencies as legal tender at this time. Brison is now working to translate the law in a way that fits our Dutch legal system and local economy, SMNN reported.

According to their website, the Eastern Caribbean Central Bank (ECCB) was established in October 1983. It is the monetary authority for a group of eight island economies, namely Anguilla, Antigua and Barbuda, Commonwealth from Dominica, Grenada, Montserrat, Saint Kitts and Nevis. , Saint Lucia and Saint Vincent and the Grenadines. Saint Martin, one of the four countries of the Kingdom of the Netherlands, is also a member. The ECCB currency union has a total gross domestic product of nearly US$10 billion.

The ECCB legislation is an excellent regulatory framework that aims to protect the consumer, the economy and to ensure that surveillance of virtual assets does not spiral out of control, without stagnating potential growth opportunities for the sector, Brison said. The crypto is currently unregulated by the Central Bank of Curacao and St. Maarten. Allowing cryptocurrency to continue to be completely unregulated in St. Maarten is extremely risky, and we need to be proactive. I therefore use my right of initiative to bring this law with the TRON protocol to the fore, with subsequent possibilities of incorporating other blockchains; this too can be done in agreement with other countries like St. Kitts, which I know are also working on their own legal tender legislation, Brison said as quoted by SMNN.

TRON DAO is a community-driven DAO dedicated to accelerating the decentralization of the Internet through blockchain technology and dApps. The TRON ecosystem strives to make decentralized financial solutions and a stable currency accessible to all humans on the planet. Brison believes that the collaboration with TRON will connect St. Maarten’s economy to the fastest growing DeFi ecosystem in the world, increasing the attractiveness of the islands for both innovative entrepreneurs and international tourists.

Brison will formally engage St. Maarten’s legislative process in the coming weeks, in accordance with MPs’ constitutional right to initiate laws, with the expectation that formal passage will soon follow.

About TRON DAO

TRON DAO is a community-driven DAO dedicated to accelerating the decentralization of the Internet through blockchain technology and dApps.

Founded in September 2017 by HE Justin Sun, the TRON network has continued to make impressive achievements since the launch of MainNet in May 2018. July 2018 also marked the integration of the ecosystem of BitTorrent, a pioneer of decentralized Web3 services counting more than 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of January 2023, it had over 138 million total user accounts on the blockchain, over 4.7 billion total transactions, and over $11.0 billion in total value locked (TVL), as shown on TRONSCAN. Additionally, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoins across the world, overtaking USDT on Ethereum since April 2021. The TRON network completed its full decentralization in December 2021 and is now a DAO governed by the community. In May 2022, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins. Most recently, in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which is the first time that a major public blockchain has partnered with a sovereign nation to develop its national blockchain infrastructure. In addition to government approval to issue Dominica Coin (DMC), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing tokens based on TRON TRX, BTT, NFT, JST, USDD , USDT, TUSD, have been granted statutory status as an authorized digital currency and medium of exchange in the country.

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