Tron co-founder wants TRX adopted as legal tender in at least five countries within a year
Justin Sun, a Grenada diplomat, wants TRX, the native of Tron, a smart contracting platform he co-founded, adopted as legal tender in at least five countries within a year.
Sun hopes TRX adoption will trigger global acceptance of crypto as legal tender
In a series of tweets posted on his official account, Sun expressed that his key performance indicator (KPI) for the new year was to see TRX widely accepted and used as legal tender in no less than five jurisdictions.
Sun, who also advises Huobi, a crypto exchange, expressed his hope that adopting TRX as a legal tender will see more cryptocurrencies receive legal recognition worldwide. He admitted the goal was ambitious but shared his belief that the TRON team could make it a reality through “hard work and dedication.”
The Grenadian representative to the World Trade Organization (WTO) said that adopting TRX as a legal tender will ease the trading of goods and services and foster greater inclusivity and equity for financially marginalized populations.
Sun cautioned against people focusing too much on the United States while working towards TRX’s legal tender status. Although he acknowledged the importance of United States regulation and their influence on crypto, Sun pointed out that more than 8b people on the planet also needed to be served.
The TRON founder believes that if the rest of the world adopts crypto as legal tender, the United States, which comprises about 3% of the world’s population, will eventually follow suit. He said that crypto could become a powerful tool for financial inclusion, so there was a need to educate people and create partnerships with governments and private institutions to promote its adoption. For that reason, Sun advocates for a global approach to creating greater crypto acceptance.
TRX is already legal tender in Dominica
Recently, legislators on the tiny Caribbean island of Sint Maarten proposed formally adopting the Tron as the nation’s official blockchain infrastructure and TRX as legal tender.
The United People’s Party (UPP) head and second vice chairman of Sint Maarten’s parliament, Rolando Brison, submitted the proposal. The lawmaker has long been a vocal proponent of the advantages of blockchain technology and cryptocurrencies for the island nation’s citizens and economy.
Brison is reportedly working to propose to conform to the country’s Dutch-based legal system and local economy.
In October 2022, Sint Maarten’s southern neighbor, the Commonwealth of Dominica, officially adopted seven TRON-based tokens as legal tender. The country also adopted TRON as its designated blockchain infrastructure.
Earlier that year, Dominica passed a law governing the virtual asset space it drafted in conjunction with the Eastern Caribbean Central Bank (ECCB).