Honduras Won’t Adopt BTC As Legal Tender: Central Bank Stated

Honduras won’t adopt BTC as a legal tender according to the announcement by the Central Bank of the country but they did say that they consider issuing a CBDC as we are reading more in today’s latest Bitcoin news.

The Central Bank of Honduras won’t adopt BTC and assured that they don’t have any intention of following in the footsteps of El Salvador due to the FOMO sparked by rumors about the adoption of bitcoin as a legal tender in the country. According to the statement, the Central American country maintains a neutral position towards BTC and crypto in general with no intentions of changing it for now. They stressed that BTC won’t be accepted as a legal tender in most countries and is not even regulated. The CBH outlined that cryptos were not regulated in the country because of the risks in transactions that can fall on their shoulders:

“The BCH does not supervise or guarantee transactions made with cryptocurrencies as means of payment in the national territory, therefore any transaction made with this type of virtual assets is under the responsibility and risk of those who carry it out.”

The CBH also made it clear that because of the economic and geopolitical context that can be seen worldwide, they are studying whether it is a good idea to issue a CBDC whcih is what most countries are doing, outlining that in a CBDC the control and issuance of the currency fall on the state so it is easier to issue a CBDC than to declare BTC as a legal tender.

As El Salvador made it easy declaring BTC as a legal tender, the truth is that It is a much more complicated task considering the volatility and the lack of adoption that exists in the world. For example, during the past few months, El Salvador has been under public scrutiny after having bought huge amounts of BTC at high prices. According to the reprots, Sl Salvador had to delay its Volcano Bonds because of the geopolitical context and the price crash on the market. The new launch date should be between May and June and Bukele denied the fact, arguing that the delay happened due to other reasons.

El Salvador served as a guinea pig for other countries across the world so they can see how the economy of the country will behave after taking a decision like that one accepting BTca as a legal currency. Surveys predict which country will be the next to adopt BTC as a legal tender showing that Paraguay followed by Venezuela has Petro gained a lot of ground for the country’s economy and Honduras is on the number 39.