Topic: Is There any other country except El Salvador using BTC as legal tender? - page 2. (Read 338 times)
March 30, 2022, 08:26:27 AM
Currently full of rumours and plan announcements, though El Salvador doesn't have a predecessor for the latest bitcoin-adopted country yet. With that said, I really wouldn't be surprised if we don't have another legalization this year.
March 30, 2022, 07:50:05 AM
Maybe not legal tender in a sense of fully making Bitcoin equally accepted with local fiat, but Ukraine does intend (long-term) to adopt Bitcoin as a form of payment and make it possible to use it to pay for groceries and stuff. It was discussed in 2021 here.
Another country which wasn't mentioned in the thread yet is Japan. While Bitcoin is NOT legal tender there, it IS, it seems, allowed to be accepted as a means of payment, and has been so for many years.
So if it's about legal tender, El Salvador is exceptional. If it's about allowing Bitcoin to be accepted as a means of payment, some are doing it and some more intend to do that.
Another country which wasn't mentioned in the thread yet is Japan. While Bitcoin is NOT legal tender there, it IS, it seems, allowed to be accepted as a means of payment, and has been so for many years.
So if it's about legal tender, El Salvador is exceptional. If it's about allowing Bitcoin to be accepted as a means of payment, some are doing it and some more intend to do that.
March 30, 2022, 06:55:20 AM
As long as no official announcement, all the plan is just a plan and nothing more. Perhaps if the president is really support Bitcoin, it will have higher chance to be accepted as legal tender. However Bitcoin doesn't really need to be accepted as legal tender, at least it shouldn't be banned. So anyone free to use Bitcoin whatever they want and government wouldn't stop them to use it.
Even it's been accepted as legal tender, there's a chance the country might to stop accept Bitcoin as legal tender. You can't predict government, the same way how China and India repeat to ban and accept Bitcoin.
Even it's been accepted as legal tender, there's a chance the country might to stop accept Bitcoin as legal tender. You can't predict government, the same way how China and India repeat to ban and accept Bitcoin.
March 30, 2022, 04:49:24 AM
Russia is still one of the countries to put in consideration although no official statement yet was made on the adoption but reports shows that Russia is looking for crypto (Bitcoin) to byepass sanction, and of which with all indications the only available means to that is in making bitcoin a legal tender. Also many countries make make the moves and pass the bill but none is set to approve it while we have some other countries as well going against bitcoin placing a ban.
March 30, 2022, 01:52:54 AM
I can see why people might conclude it's going to be some sort of "domino effect", where because El Salvador have done it, that the next countries in line are now inevitable. But it's worth considering if the political and economic situation there might be somewhat atypical. It's probably fair to say El Salvador was quite unique in that the move to adopt Bitcoin was spearheaded by their president. In most other countries, it's been a lower-ranked politician pushing for it and they naturally have a much more challenging fight on their hands to enact change.
It's certainly possible a few more nations might join the club, but I honestly don't think there will be too many in the near future. The recent hype around Malaysia and Honduras seems to have been misplaced.
It's certainly possible a few more nations might join the club, but I honestly don't think there will be too many in the near future. The recent hype around Malaysia and Honduras seems to have been misplaced.
March 29, 2022, 11:58:30 PM
There are a few countries that are considering it.
In my opinion, Tonga was the closest to doing it, as you can read here:
Tonga will probably be the next country to make Bitcoin legal tender
But this was delayed because there was a massive volcanic eruption and tsunami there
There's definitely some traction around the world lately. Have a look at this topic for example:
Governments that accept Bitcoin for public services
In my opinion, Tonga was the closest to doing it, as you can read here:
Tonga will probably be the next country to make Bitcoin legal tender
But this was delayed because there was a massive volcanic eruption and tsunami there
There's definitely some traction around the world lately. Have a look at this topic for example:
Governments that accept Bitcoin for public services
March 29, 2022, 05:38:05 PM
Recent update 1 day ago
Malaysia says country will not accept Bitcoin as legal tender Source
Dont know if this one is already official.
Lugano, Switzerland Will Make Bitcoin Legal Tender
Link: https://www.nasdaq.com/articles/lugano-switzerland-will-make-bitcoin-legal-tender
Lots of countries now making out some possible recognition on making it a legal tender but not an assurance that it would happen though.
Malaysia says country will not accept Bitcoin as legal tender Source
Dont know if this one is already official.
Lugano, Switzerland Will Make Bitcoin Legal Tender
Link: https://www.nasdaq.com/articles/lugano-switzerland-will-make-bitcoin-legal-tender
Lots of countries now making out some possible recognition on making it a legal tender but not an assurance that it would happen though.
March 29, 2022, 05:34:06 PM
Is there any other country with a serious plan to choose BTC as legal tender?
Yes, there are countries that do consider it. With those countries mentioned above, and still, some of them are still rumors. We don't know yet the actual plans if they're into it.We'll just know it until it's already been pushed and already made a law for being a legal tender. So aside from those countries given above, I think Mexico is also part of the list.
(https://www.cityam.com/mexico-being-lined-up-as-next-nation-for-full-bitcoin-adoption/)
March 29, 2022, 04:45:57 PM
More countries are on the queue, but we haven't got any official information regarding the same. Quite often there used to be some proposals of considering bitcoin as legal tender. The recent one being the proposal from Malaysia and Honduras.
More other countries are into legalizing the usage of cryptocurrencies and haven't come up with plans of considering it legal tender. In such a way Vietnam which has been showing interest on bitcoin and cryptocurrencies since 2017 have started to create framework of cryptocurrencies usage.
Malaysian Ministry Proposes Legal Tender of Crypto Currency
Honduras’ Central Bank Debunks Bitcoin as Legal Tender Rumors
Vietnam takes steps to launch legal framework for cryptocurrencies
More other countries are into legalizing the usage of cryptocurrencies and haven't come up with plans of considering it legal tender. In such a way Vietnam which has been showing interest on bitcoin and cryptocurrencies since 2017 have started to create framework of cryptocurrencies usage.
Malaysian Ministry Proposes Legal Tender of Crypto Currency
Honduras’ Central Bank Debunks Bitcoin as Legal Tender Rumors
Vietnam takes steps to launch legal framework for cryptocurrencies
March 29, 2022, 04:26:09 PM
Is there any other country with a serious plan to choose BTC as legal tender?
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