Government Not Supporting Bitcoin Or Cryptocurrency In T&T At This Time

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Government Not Supporting Bitcoin Or Cryptocurrency In T&T At This Time

The government is not supporting bitcoin-mining in Trinidad and Tobago at this time.

All those who have approached the government on this matter have been informed of the development.

Minister in the Ministry of Finance, Brian Manning, made the disclosure in the Senate Tuesday afternoon.

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Minister Manning said bitcoin has raised financial concerns for governments world-wide, and despite its use in some countries for buying goods and services there are no uniformed international laws that regulate bitcoin.

Minister Manning said crypto is also not supported or backed by Central Banks nor are crypto deposits ensured.

Independent Senator, Amrita Deonarine, inquired as to a timeline for the development of a policy framework on possibilities for a cryptocurrency sector in Trinidad and Tobago as well as a timeline for the introduction of legislation in Parliament.

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