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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

Binance withdraws from the FTX cryptocurrency exchange bailout

 Binance abandons the rescue of the FTX cryptocurrency exchange. The problems FTX was having, according to Binance, were "beyond our control or ability to help," the company claimed in a statement shared on Twitter. It claimed that information about "mismanaged customer funds and purported US agency investigations" had influenced its choice. A "liquidity constraint" brought on by a spike in withdrawals left FTX in trouble.

Withdrawals of $6 billion (£5.2 billion) were reportedly sparked in just three days by worries about FTX's financial stability. The US Securities and Exchange Commission (SEC) was reportedly looking into how FTX handled customer funds and its crypto-lending activities on Wednesday, according to the Reuters news agency. The markets regulator was investigating whether the platform had complied with securities rules regarding the segregation of customer assets and whether it had engaged in customer trading.

A growing number of bitcoin firms have failed as a result of not having enough cash on hand. As worries about how crypto platforms are trading rise, the SEC and other regulators have been increasing their surveillance of the market, adding to the pressure.

Earlier this year, a BlockFi subsidiary agreed to settle charges relating to its retail lending product by paying a record penalty.