Is Suriname's Economy Ready for Cryptocurrency? 💰

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avatar of @tanjakolader
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2 years ago - 2 minutes read



After reading this article about the Norwegian Tax Administration and laws and regulations, that have been approved, regarding paying taxes for crypto currencies, I was wondering when this will become a reality in my home country Suriname. I know that there's a lot of work and research that needs to happen, before anything crypto related gets regulated by Suriname's government, because most financial transactions are still taking place in physical cash.

There's a plethora of reasons why that is, but won't get into all of that. What I will say is that banks make it hard(er) for people to open up bank accounts and a part of the population prefers cash money for also a set of reasons. Another explanation is that the infrastructure for digital payments for government services is not yet in place. There are plans to make it happen, but when this will become a reality is a mystery to me.

What also needs to happen is to update laws and regulations regarding the monetary institutions in the country and in some areas also need to implement new laws, especially how crypto currency is an entirely new and foreign concept here. And in my previous post I had mentioned that the government is thinking of transitioning from a Goods and Services Tax law to Value Added Taxes, for which also a set of arrangements needs to be taken care of, which is why it hasn't been implemented yet.

So I was thinking, that while they're busy with the laws for digital payments and its infrastructure, they might as well start taking crypto currency into those plans, as most services and financial transactions and everything in between are interconnected. But what do you think? Should the government start with one thing and go from there or could this all happen simultaneously? Would like to read your thoughts in the comments below 🤓.

Chasse into the backstage! 💃


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