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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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Fidelity Crypto: $4.5 trillion firm launches retail crypto trading


Despite opposition from American lawmakers, financial behemoth Fidelity has opened its new retail bitcoin trading accounts, advancing farther into the troubled cryptocurrency environment. According to the firm's website, Fidelity Crypto gives users the chance to purchase and sell bitcoin and Ethereum through the Fidelity Investments App. The company also promises users an integrated view of their traditional and crypto investments and the ability to trade cryptocurrency for as little as $1.

Only bitcoin and Ethereum will initially be able to be traded on the Fidelity Crypto platform, but the company claims that new cryptocurrencies are being considered to eventually increase trading options. As of the launch date, bitcoin transfers cannot be received or sent using Fidelity Crypto accounts. The website advertises "commission-free" cryptocurrency trading, however, every trade's execution price will include a 1% spread charged by the company. According to Fidelity, 1% is the maximum rate, though they may opt to apply a smaller spread percentage or none at all initially.

Currently, 35 states in the United States, including California, New York, Texas, Florida, Massachusetts, Pennsylvania, and New Jersey, will provide Fidelity Crypto. Customers in states where it isn't currently accessible can sign up for early access to be notified when the platform is approved.


 

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