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Caribbean Islands, Dubai, Mumbai: Bitcoin Cash Adoption Continues to Grow Worldwide

Bitcoin Cash supporters have been known to spread adoption over the years and 2022 is no different. This year, the peer-to-peer cryptocurrency bitcoin cash has seen significant adoption in the Caribbean islands, along with places like Dubai and Mumbai.

Bitcoin Cash Advocates Continue to Promote Peer-to-Peer Cryptocurrency Adoption

According to the map.bitcoin.com website, there are thousands of merchants around the world that accept bitcoin cash (BCH) for goods and services. Additionally, if one visits the r/btc Reddit forum, one will notice a plethora of posts highlighting adoption in places like Dubai, Mumbai, St. Kitts and Nevis, and St. Marten.

Bitcoin.com News previously reported on St. Maarten, Rolando Brison, revealing that he requested that his entire salary be converted into bitcoin cash. Map.bitcoin.com indicates that there are more than 160 merchants that accept BCH in the region.

Bitcoin Cash is now accepted by the Caribeeats platform (caribeeats.com) and BCH can be used to deliver food and groceries to more than 15 different countries. Caribeeats serves regions such as Barbados, Dominica, Grenada, USA, Jamaica, Montserrat, St. Saint Kitts, St. Lucia and much more.

Starting today, https://t.co/jo5L9YGhz9 accepts #BitcoinCash! Try it today in #Antigua #BVI #Barbados #Bahamas #Caribbean #Grenada #GUYANA #London #Trinidad #USA https://t.co/K8GOsZM66j pic.twitter.com/SQxZRcVPAp

— Roger Ver (@rogerkver) May 28, 2022

Numerous Reddit and map.bitcoin.com posts reveal that BCH is beginning to make a presence in Dubai at establishments such as Masala Mantra, Tandoori Junction, Great Wok, Bermuda Diving Center, X Factor Restaurant, Franck Muller Middle East and India, Perfetto Pizzeria and Business Town.

Similarly, BCH adoption is also taking place in India’s de facto financial hub, Mumbai. In mid-April, Hosanna House Montessori School, an all-boys school located in Mumbai, announced that it had become the first Montessori school in India to accept BCH.

On June 2, the Nahar Medical Center revealed that it has become the first medical center in India to accept bitcoin cash. In Mumbai, BCH is also accepted at Jayant, Paramount Sports n Nutrition, Vig Refreshments, Super Waves, Copa, and Haute Dog Pet Salon & Boutique Store.

Bitcoin Cash has been gaining significant adoption in the twin-island Caribbean nation of St. Kitts and Nevis, as the region has a total of 159 merchants accepting BCH, according to map.bitcoin.com. Last month, Club Dubai in St. Kitts revealed that it accepts bitcoin cash (BCH) payments, and Kentucky Fried Chicken (KFC) in St. Kitts adopted BCH.

Bitcoin cash is also accepted at Burger King St. Kitts and the Panda supermarket on the island accept BCH. in St. Kitts, the crypto is also accepted at Sun Island Clothes, Karma Asian Cuisine, Econo Retail Shop, and Oracle Martial Arts Academy.

Merchants that accept bitcoin cash are prominent in several other regions of the world, including Anguilla, Antigua, Japan, Venezuela, Slovenia, Australia, Philippines, Vietnam, Ghana, Zimbabwe, Argentina, and more. Additionally, a good portion of businesses that accept BCH for payments accept the digital currency directly, rather than using a third party or payment processor.

Businesses that accept cryptocurrencies can be found at map.bitcoin.com, but BCH users can also take advantage of the Green Pages and Acceptbitcoin.cash websites to view physical and online merchants that accept peer-to-peer cryptocurrency assets.

Belarus moves to allow investment funds to acquire crypto assets

Belarus, a crypto-friendly nation, is gearing up to allow investment funds to put money into digital currencies. A proposal for this is part of a package of legal changes needed to attract these institutions to the country.

Ministry of Finance takes steps to facilitate investments in cryptocurrencies in Belarus

The Ministry of Finance has published amendments aimed at attracting investment funds to Belarus for public consultation. Despite having a regulatory framework for collective investments, so far no fund has been registered in the country, the department said in the reasons for the initiative.

One of the main reasons for the absence of these funds is that they are currently barred from investing in crypto assets, representatives from professional circles pointed out. The market for “digital tokens”, a legal term used to describe cryptocurrencies, is growing rapidly, the Ministry of Finance acknowledged.

To lift the restrictions, the ministry drafted a resolution amending its own decree on stock market activities belonging to investment funds. It plans to allow the funds to operate simultaneously as securities brokers and residents of the Belarus High Tech Park (HTP). The latter administers a special legal regime established to facilitate the country’s digital economy, including the cryptocurrency sector.

Another concern expressed by professionals is the absence of long-term guarantees from the government regarding the existing tax cuts for the sector. To address the issue, the Ministry of Finance has introduced new provisions that will extend tax exemptions for entities working with collective investments until January 1, 2031.

Belarus opened its doors to cryptocurrency companies with a decree “On the development of the digital economy” that took effect in the spring of 2018. The document, signed by President Alexander Lukashenko, introduced tax breaks and other incentives for companies managing digital assets. . .

Despite Lukashenko hinting at a possible tightening of regulations last March, Belarusian officials more recently indicated that Minsk officials have no intention of adopting stricter rules for the crypto space, even as the country’s closest ally, Russia, is in discussions. a proposal to ban a variety of cryptocurrency-related activities.

Although the use of cryptocurrencies as a means of payment is prohibited in Belarus, HTP residents can issue and exchange coins and tokens, and the country’s largest bank offers a service that allows users to buy and sell digital currencies. Chainalysis’ cryptocurrency adoption index ranks Belarus third in Eastern Europe after Russia and Ukraine due to strong peer-to-peer activity.