BASSETERRE, ST. KITTS, JULY 9TH 2014 (CUOPM) – The St. Kitts and Nevis Citizenship By Investment Programme (CIP) says it does not recognise Bitcoins as a legal investment currency for financial transactions.
“The Citizenship by Investment Unit would like to assure the general public that we do not recognize Bitcoins as legal investment currency for financial transactions within our Citizenship by Investment Programme. We further emphasize that we do not accept Bitcoins, have never accepted Bitcoins, and will not accept Bitcoins,” the statement said.
It adds that they only process and accept applications from “Licensed Authorised Persons (Service Providers),” and “transactions are conducted through internationally recognized banking institutions.”
“These institutions adhere to international financial regulations and only handle traditionally acceptable currencies such as the United Kingdom Pound Sterling, the European Union Euro, the United States US Dollar and the Eastern Caribbean EC Dollar.”
The Citizenship by Investment Unit says they are conducting an investigation on the advertisements online, warning that “Any company found to be engaged in this practice in association with our programme will have its license revoked and struck from the register of Authorised Persons (Service Providers).”