Justin Sun, a diplomat from Grenada, wants TRX, the native of Tron, a smart trading platform he co-founded, to be adopted as legal tender in at least five countries within a year.
Sun hopes TRX adoption will trigger global acceptance of cryptocurrencies 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 cryptocurrency exchange, expressed hope that the adoption of TRX as legal tender will see more cryptocurrencies receive legal recognition around the world. He admitted that the goal was ambitious, but shared his belief that the TRON team could make it happen through “hard work and dedication.”
Grenada’s representative to the World Trade Organization (WTO) said that the adoption of TRX as legal tender will facilitate trade in goods and services and foster greater inclusion and equity for financially marginalized populations.
Sun warned against people focusing too much on the United States while working to achieve legal tender status for TRX. While acknowledging the importance of US regulation and its influence on cryptocurrencies, Sun noted that it was also necessary to serve more than 8 billion people on the planet.
The TRON founder believes that if the rest of the world adopts cryptocurrencies as legal tender, the United States, which comprises around 3% of the world’s population, will eventually follow suit. He said that cryptocurrencies could become a powerful tool for financial inclusion, so it was necessary to educate people and create alliances with governments and private institutions to promote their adoption. For that reason, Sun advocates a global approach to create greater acceptance of cryptocurrencies.
TRX is now legal tender in Dominica
Recently, lawmakers on the small Caribbean island of Sint Maarten proposed to formally adopt Tron as the nation’s official blockchain infrastructure and TRX as legal tender.
The head of the United People’s Party (UPP) and second vice-president of the Sint Maarten parliament, Rolando Brison, presented the proposal. The lawmaker has long been an advocate of the advantages of blockchain technology and cryptocurrencies for the citizens and economy of the island nation.
Brison is reportedly working to propose adjusting to the Dutch legal system and the country’s 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 has also adopted TRON as its designated blockchain infrastructure.
Earlier that year, Dominica passed a law that governs the virtual asset space that it drafted together with the Eastern Caribbean Central Bank (ECCB).
