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How the Saint Lucia Citizenship By Investment Program Can Benefit Crypto Investors Seeking a Tax Haven

  Photo by yousef alfuhigi on Unsplash Cryptocurrency investors are always on the lookout for tax-efficient solutions to minimize their tax liabilities. One option that is gaining popularity among investors is the Saint Lucia Citizenship By Investment Program. In this article, we'll explore how this program can benefit cryptocurrency investors looking for a tax haven country. Saint Lucia is a sovereign island country located in the Caribbean Sea. Its Citizenship By Investment Program (CIP) was established in 2015, allowing investors to obtain a second passport by making a qualifying investment in the country. Saint Lucia's CIP has become a popular choice for high-net-worth individuals and entrepreneurs seeking a safe haven to protect their assets and minimize their tax liabilities. Saint Lucia's second passport permits travel to 145+ global countries visa-free, including the United Kingdom, Singapore, Hong Kong, as well as the European Union countries. The Saint Lucia pass...
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What is Tornado Cash


How does TornadoCash operate and what is it? On Ethereum, Tornado Cash is a decentralized mixer protocol that allows for private transactions. In order to increase privacy by obfuscating potential audit trails, mixers are smart contracts that accept, pool and mix cryptocurrency from multiple senders.

It achieves this by severing the on-chain connection between the recipient and destination addresses, which makes it challenging to connect the withdrawal to the deposit for a smart contract that accepts deposits. A user creates a secret during the deposit process and sends its hash (commitment) to Tornado Cash's smart contract along with the desired deposit amount. The smart contract adds the commitment to its list of deposits after accepting the deposit. 
The user has to demonstrate during the withdrawal procedure that he is in possession of a secret to an unspent commitment from the list of deposits in the smart contract. The smart contract will accept the withdrawal to the designated address for the withdrawal if it is valid proof. 

Staking
 Users of Tornado Cash have used the TORN token for governance since the platform's inception. Its primary function is to enable both in-chain (through locked TORN for governance proposals) and off-chain proposal and voting (on Snapshot).
Holders of TORN can continue to use the governance contract to lock their tokens as they did in the past for governance. They can now receive a portion of the fees relayers pay to the protocol, which is a significant change. Naturally, the reward's percentage will match the percentage of their locked TORN.

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