Geneva, Switzerland — Jan. 25, 2023 — Tron may soon be officially adopted by the government of the eastern Caribbean island of St. Maarten. Member of Parliament (MP) Rolando Brison, the leader of the United People’s Party and second vice chairman of St. Maarten’s parliament, has been outspoken for some time now about the benefits of blockchain technology and cryptocurrency for the people and the economy of his homeland. He has now initiated the proposal of a law to designate the Tron protocol as the country’s blockchain infrastructure and the Tron-based cryptocurrency, TRX, as legal tender for everyday use.
Justin Sun, founder of Tron, tweeted about the milestone:
“Another milestone for TRON! St Maarten to adopt TRON as legal tender marks another achievement for our push on worldwide blockchain adoption.”
On March 19, 2022, Bitcoin.com News featured Brison, when he announced, “He’s become the first elected official to request his entire 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.
On Jan. 23, 2023, the Saint Martin News Network (SMN-N) highlighted MP Brison’s declaration to advance a law that would officially make Tron and Tron-based cryptocurrencies part of St. Maarten’s local commerce and economic infrastructure. SMN-N noted MP Brison’s intention was not to “re-invent the wheel,” but rather to follow the example of St. Maarten’s southern neighbor Dominica.
In October 2022, the Commonwealth of Dominica officially announced the adoption of seven Tron-based cryptocurrencies as legal tender, along with the designation of Tron as its national blockchain, following the passage of the Virtual Asset Business Legislation in May 2022, which the Eastern Caribbean Central Bank assisted in drafting. Brison is now working to translate “the law in a manner that fits our Dutch legal system and local economy,” SMN-N reported.
According to its 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 of Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia, and St Vincent and the Grenadines.” St. Maarten, one of four countries of the Kingdom of the Netherlands, is also a member. The ECCB monetary union has a total gross domestic product of nearly $10 billion.
“The ECCB legislation is a great framework for regulation that focuses on protecting the consumer, the economy, and ensuring that virtual asset oversight does not spiral out of control, without stagnating potential growth opportunities for the sector,” Brison said. Crypto is currently unregulated by the Central Bank of Curacao and St. Maarten. “Allowing cryptocurrency to continue totally unregulated in St. Maarten is extremely risky, and we have to be proactive. Hence, I use my right of initiative to bring this law with Tron Protocol at the forefront, with possibilities later for other blockchains to be incorporated; this, too, can be done in line with other countries like St. Kitts, who I know are also working on their own legal tender legislation,” stated Brison, as quoted by the SMN-N.
Brison will formally engage St. Maarten’s legislative process in the coming weeks in accordance with the constitutional right MPs have to initiate laws, with the hope that official adoption will soon follow.
The Tron ecosystem is striving to make decentralized financial solutions and stable currency accessible to every human on the planet. Brison feels that collaboration with Tron will connect St. Maarten’s economy with the fastest-growing blockchain ecosystem in the world, thus increasing the island’s attractiveness both for innovative entrepreneurs as well as international tourists.