The US dollar was adopted by the British Virgin Island in 1959
The British Virgin Islands won’t refuse the US dollar. Source: shutterstock.com
The British Virgin Islands denied the fact of launching its national cryptocurrency or replacing the US dollar with a digital currency. The British Virgin Islands considered being a good environment for digital technology, innovation, and entrepreneurship.
Territory of the British Virgin Islands has been an object of interest for a number of international firms that would like to launch their bases or simply to trade and offer their services there. For instance, LifeLabs.io company aims to run its cryptocurrency business on the British Virgin Islands.
The Government of the Islands says it is committed to creating an economic space to handle modern technology so that residents and businesses retain the freedom to choose how they do business.
In light of that, the adoption of that technology can occur without any change in the Island’s official currency.
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