• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • TWS, Singapore (July 28-29, 2025)
    • WFIS, Philippines (September 23-24, 2025)
    • Forex Expo Dubai (October 6-7, 2025)
    • Merge Madrid (October 7-9, 2025)
    • European Blockchain Convention, Barcelona (October 15-17, 2025)
    • Blockchain Futurist Conference, Florida (November 5-6, 2025)
    • WFIS, Indonesia (November 25-26, 2025)
  • Past Events
    • Blockchain Life
    • BlockShow Europe
    • Event Horizon

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies

Join us on Telegram: https://t.me/crypto_reporter
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Changing USD Currency Not an Option for the Government of the British Virgin Islands

December 16, 2019 By Business Wire

TORTOLA, British Virgin Islands--(BUSINESS WIRE)--The Government of the British Virgin Islands has moved to clarify certain inaccurate reports and misconceptions that have been circulating in the local and international media with respect to its use of the US Dollar as the Territory’s official currency.

Contrary to those media reports, the Government of the Virgin Islands is not in the process of developing or launching its own national cryptocurrency, neither by itself nor in partnership with any other entity, to replace the US dollar with a digital currency. The British Virgin Islands adopted the US dollar as its currency in 1959 and have made no commitments to replace it as the official currency in any form.

The Government of the British Virgin Islands is positioning the Territory as a hub for digital technology, innovation and entrepreneurship, and in this regard, it has sought to create a welcoming and enabling environment for doing business. The Government wants to ensure that the jurisdiction remains at the forefront of key developments in the fintech arena. Part of this thrust was the successful hosting of a digital symposium by the Government on December 3, 2019.

The Government of the British Virgin Islands has been receiving proposals and expressions of interest from numerous international firms that would like to make the Territory their base of operations, or simply to trade and offer their services in the Territory. One such company is LifeLabs.io, which is in the cryptocurrency business.

The Government of the British Virgin Islands is committed to creating an economic space that embraces modern technology and where residents and businesses retain the freedom to choose how they do business based on their own preferences. Adoption of this technology by persons in our economic space can occur without any change in the Territory’s official currency.

The Government of the British Virgin Islands is keen to explore proposals that will improve the quality of life of all citizens, provide economic stability and resilience, and enable the Territory to maintain and improve its competitive position at the forefront of digital innovation, particularly in financial services. The BVI is open to dialogue with technology companies, especially those involved in green energy, smart technology and digital services – including cryptocurrencies and blockchain – that are interested in doing business in the BVI or operating from the BVI.


Contacts

Department of Information and Public Relations (GIS)
Arliene T Penn
Director of Communications in the Office of the Premier of the BVI
Tel: 284 468 2730
Fax: 284 468 2750
Email: gis@gov.vg

Filed Under: News Feed

Primary Sidebar

Follow Us

Press Releases

President Trump’s Tariff Letters Spook the Market, but Ripple (XRP) and Little Pepe (LILPEPE) Hold Steady

July 15, 2025

Solaxy and Nexchain: Two Crypto Presales That Could Outperform DOGE — Nexchain Adds $5M Rewards, Airdrop & 50% Bonus

July 15, 2025

BNB Holds Steady While Nexchain Hits $6.4M+ With Airdrop & Rewards — Top Crypto to Watch Now?

July 15, 2025

Metaplex Announces Genesis, A New Protocol For Token Launches on Solana

July 15, 2025

Pump Fun Becomes Third-Largest ICO, Is BlockchainFX Presale Next as Whales Earn $6,800? Find The Best Crypto to Invest in Now

July 15, 2025

TWS Conference

Forex Expo Dubai

Merge Madrid

Futurist Conference

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2025 Crypto Reporter