Home » Business » ‘We’ll not be making BTC legal tender’: Honduras central bank debunks rumors Honduras will not be joining its neighbor El Salvador to make BTC legal tender, the country’s central bank has clarified following widespread rumors that the move was imminent. The Banco Central de Honduras took to Twitter to state that…
Honduras will not be signing up with its next-door neighbor El Salvador to make BTC legal tender, the nation’s main bank has clarified following prevalent reports that the relocation was impending.
The Banco Central de Honduras took to Twitter to state that it has no preparation for making the digital currency a legal tender any time .
Comunicado sobre la possible adopcion del Bitcoin como moneda de curso legal del pais. Para mayor informacion: https://t.co/hIDx8DWiKp pic.twitter.com/TejuiWRO9E
— Banco Central de Honduras (@BancoCentral_HN) March 23, 2022
This came following reports, particularly on social media platforms that the nation would end up being the next in line to make the relocation after its next-door neighbor El Salvador. Several individuals on Twitter declared to have the inside scoop that President Xiomara Castro would be making the vibrant declaration following in the actions of the fascist leader Nayib Bukele.
“We need to not permit El Salvador to be the nation leaving dollar hegemony. Honduras has the right to relocation towards the First World nations.”
~ President Castro pic.twitter.com/16sOmdTJie
— Bitcoin Lightning Network+ (@BTC_LN) March 21, 2022
However, the Banco Central de Honduras clarified that it’s the entity that can concern legal tender in Honduras and that as of now, the lempira is the acknowledged legal tender in the Central American country.
Further, the main bank advised the public that digital currencies are not controlled in Honduras. Referencing 2 previous communiqués in 2020 and 2021, the bank mentioned that it does not “supervise or warranty operations brought out with cryptocurrencies as indicates of payment in the nationwide area.
Despite being anti-BTC, the main bank spoke about a main bank digital currency (CBDC). Just as with most other main banks, the Banco Central de Honduras has continued to research study and conceptually, lawfully, and technically check the expediency of providing its own CBDC. If it does concern state-backed digital currency, it would sign up with the Caribbean country of the Bahamas which released its Sand Dollar CBDC in 2020, being the very first country in the world to make the relocation even as others like China continue to test their digital currencies.
El Salvador continues to be the country to acknowledge BTC as legal tender. President Bukele’s federal government has continued to face one blow after another for its move, even as he continues to promote the advantages of utilizing BTC as legal tender (which according to him centers on holding and making a killing through speculation).
The most current is the postponement of a $1 billion BTC bond which the federal government designated to sell and raise cash to develop the ‘Bitcoin City,’ a city that would be based on BTC, consisting of mining powered by the Conchagua volcano’s geothermal energy.