Honduras denied rumors of bitcoin legalization as a means of payment

The country’s central bank is exploring the technological capabilities of CBDC

24.03.2022 - 08:45

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2 min

What’s new? The Central Bank of Honduras has stated that it does not regulate cryptocurrency, including bitcoin, in any way for now. The Central Bank’s representatives wrote about this on Twitter after rumors spread about the adoption of BTC as a means of payment. The Bank of Honduras recalled that it is the only “authorized issuer of banknotes and coins” in the country.

Source: Twitter.com

What else did the country’s Central Bank explain? The statement says that the financial authority is not responsible for transactions with digital assets, so Honduran citizens can pay with cryptocurrency “at their own risk.”

The Central Bank of Honduras also stated that it will continue to work on conceptual, technical, and legal studies to determine the possibilities of a central bank digital currency (CBDC).

What preceded it? The neighboring country of El Salvador became the first in the world to recognize bitcoin as a means of payment in September 2021. A few months later, President Nayib Bukele revealed plans to create the first cryptocurrency city, Bitcoin City. El Salvador plans to issue its own bitcoin bonds in the near future.

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