Antigua drafts new Bitcoin bill to combine Bitcoin and online games to promote economic development

According to local media reports, the government of Antigua and Barbuda is drafting a new Bitcoin bill to "enable Bitcoin." The decision may be influenced by Canadian billionaire entrepreneur Calvin Ayre and Australian entrepreneur Craig Wright, who calls himself the "founder of Bitcoin."

(The Antigua and Barbuda government is drafting a new Bitcoin bill. Image source: Golden Finance)

Drafting Bitcoin Bill

The cabinet of the twin-island nation of Antigua and Barbuda has directed its Attorney General, Stedroy Benjamin, to “draft a new Bitcoin bill, regarding the laws implementing Bitcoin.” Antigua and Barbuda is a commonwealth nation located in the Caribbean Sea east of Puerto Rico.

The proposal came after a meeting of a group associated with the Antigua Leisure and Gaming Association on Wednesday, where Bitcoin was discussed as “a new method of transacting goods and services,” and thus a Bitcoin bill was necessary to keep it functioning, Antigua Observer said.

(Antigua Attorney General Benjamin is responsible for drafting the Bitcoin bill. Image source: Golden Finance)

Minister of Trade and Consumer Affairs EP Chet Greene explained his country’s interest in Bitcoin on Thursday:

“This new currency ‘Bitcoin’ is immutable; you can always trace the transaction, so it is better traceable in the context of allegations of tax evasion in our country.”

Antigua and Barbuda is a tourism-based economy with several casinos on the island and a growing internet gaming industry. Green also said: "Bitcoin is good for the internet gaming industry in Antigua and Barbuda."

The influence of Craig Wright and Calvin Eye

Reuters reported last June that Craig Wright, the self-proclaimed “founder of Bitcoin,” has been applying for a large number of Bitcoin and blockchain patents.

In 2015, Wright “planned to propose to the Antiguan government that the island adopt Bitcoin as its official currency.” His proposal to Antigua was as follows: “Bitcoin is more than just currency [...] it is the new backbone of the internet and the foundation of commerce.”

(Canadian billionaire entrepreneur Calvin Aye may influence the drafting of Antigua’s Bitcoin bill. Image source: Golden Finance)

Wright has also received support from Canadian billionaire entrepreneur Calvin Ayre, who lives in Antigua. Reports say Ayre established a $25 million call center in Antigua last October, claiming that “it’s part of his vision for Bitcoin and online gaming.”

“I see a growing convergence of Bitcoin, online gaming, virtual reality and gamification technologies, and progressive countries like Antigua will be well positioned to capitalize on this convergence by developing a truly global services industry.”

The Antigua Observer reports that Green has encouraged the public to learn more about cybersecurity privacy as the government prepares to draft laws to implement Bitcoin.