Buy a Green Card With Bitcoin? US Officials Weigh Impact on EB-5

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US immigration services are actively weighing the question of whether bitcoin can be used to pay for obligations tied to a controversial visa program.

The context: One avenue for acquiring a green card or permanent residency in the US is through the EB-5 Immigrant Investor Visa Program. This initiative was started in the 1990s as a way to attract overseas investor capital to projects in ostensibly needy areas.

Yet the EB-5 program has come under fire in recent months amid accusations that it has become a vehicle for wealthy investors to effectively buy their way into the US and invest in projects – namely, luxury real estate – that are completely unrelated to the program’s intended goal. The program has even been targeted by members of Congress for elimination given the criticism.

Family members of Trump administrator advisor Jared Kushner, who is President Donald Trump’s son-in-law, sparked controversy earlier this month after appearing to encourage Chinese citizens to invest in their developments via the EB-5 program – and curry favor with Trump in the process.

The bitcoin connection: Recent statements from the head of the Immigrant Investor Visa Program office, Lori MacKenzie, suggest that investors may,

Read more ... source: CoinDesk

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