Honduras Dismisses Adoption of BTC as a Legal Tender, Opts for CBDC

Honduras Dismisses Adoption of BTC

The Central Bank of Honduras has announced that it has no plans to adopt Bitcoin as legal tender but will instead explore the possibility of a central bank digital currency.

The country has highlighted in a statement that its stance on Bitcoin will remain neutral at the moment, citing inadequate regulations and the infant stage of the sector.

CBH notes that the country is looking into the possibility of a central bank digital currency, as seen in other countries since the currency issuance is controlled by the state.

The announcement has come amid anticipations that the Latin American nation was about to follow in the steps of El Salvador.

El Salvador has reportedly halted the issuance of its Volcano bonds due to the geopolitical context and price volatility. The country’s President has come under fire for buying the top of the digital asset.

Source: BCH

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