Over 80 local currencies launched in America since 1991, but only a few last. Local currencies are only accepted at willing local businesses. They are not backed by the central bank. Local-currency circulation in most places is really low. Local currency is accepted at 150 local shops and businesses and can be used to pay local taxes.
Sub-national currencies struggle to survive
Download our eBook “Moving To The US”
Disclaimer:
This document is intended as an information source only. The comments and references to legislation and other sources in this publication do not constitute legal advice and should not be relied upon as such. You should seek advice from a professional adviser regarding the application of any of the comments in this document to your fact scenario. Information in this publication does not take into account any person’s personal objectives, needs or financial situations. Accordingly, you should consider the appropriateness of any information, having regard to your own objectives, financial situation and needs and seek professional advice before acting on it. CST Tax Advisors exclude all liability (including liability for negligence) in relation to your reliance in this publication.