TechFlow news — On October 12, Justin Sun, founder of TRON, announced via social media that the Caribbean nation of Dominica has passed legislation recognizing multiple cryptocurrencies from the TRON ecosystem as official legal digital currencies of the country, granting them legal tender status. The law officially took effect on October 7. This marks the second group of cryptocurrencies in the world, after Bitcoin, to be granted legal digital currency status. The collaboration between TRON and Dominica represents not only a historic breakthrough for the blockchain industry in terms of globalization and regulatory compliance but also sets a new precedent for partnerships between blockchain platforms and sovereign nations.
According to the officially released "Dominica Cryptocurrency Act," seven TRON-based tokens have been designated as legal digital currencies in Dominica: BTT, JST, NFT, TRX, USDD (TRC-20), USDT (TRC-20), and TUSD (TRC-20). These seven tokens will be accepted across all domestic economic activities in Dominica, including tax payments.
TRON has recently entered into a series of high-level collaborations with Dominica, being designated as the nation’s official blockchain infrastructure and securing legal recognition as such. TRON has also been authorized to issue fan tokens for the country. This partnership represents the highest-level cooperation ever achieved between the blockchain industry and a sovereign state to date.
