A Real Witches’ Brew: Vietnamese Seek to Use Cryptocurrency for EB-5
By David North on April 15, 2023
The EB-5 (immigrant investor) program, already scandal-ridden and recently suspended by Congress for nine months for needed reforms, just took another (self-inflicted) blow.
An EB-5-supporting law firm has filed a federal court case with a witches’ brew of ingredients including advocating these dubious policy positions:
Controversial cryptocurrency, such as that involved in the FTX and Silvergate financial collapses, should be used in the EB-5 program by foreign investors;
By implication, even borrowed cryptocurrency should count when buying one’s way into U.S. citizenship;
Laws of Vietnam seeking to avoid capital flight should be skirted; and
While the lawsuit calls for governmental transparency, the reporting of the suit does not provide a name for the case or let us know where it was filed.
Or, you might say, just another day in the shrinking, self-destructive EB-5 program.
https://cis.org/North/Real-Witches-Brew-Vietnamese-Seek-Use-Cryptocurrency-EB5
