Vanuatu Becomes the First Country to Accept Bitcoin for Citizenship
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9 October
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The Pacific Island of Vanuatu offers foreigners to buy citizenship of the so-called Paradise Islands for slightly more than 43 Bitcoins (Bitcoin), Newsweek reports.

The Vanuatu Information Centre (VIC) has announced that its Development Support Program (DSP) will allow anyone to qualify for Vanuatuan citizenship through a one-time payment of $200,000 – or its cryptocurrency equivalent.

Geoffrey Bond, Chairman of the VIC said: “The government of Vanuatu has explicitly expressed a desire to be at the forefront of adopting new technologies, officially encouraging the VIC to receive payments in Bitcoin.”

All Bitcoin transactions for Vanuatuan citizenship will be run through an Australian cryptocurrency exchange, which complies with requirements imposed by the Australian financial regulations.

Vanuatu is a member of the Commonwealth of Nations and citizenship allows visa-free travel to 113 countries, including EU states, Russia and the United Kingdom.

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