A former member of Parliament in Tonga, Lord Fusitu’a, says that the Pacific Island nation is working on a bill similar to that of El Salvador to adopt BTC as a legal tender.
Fisitu’a reveals that Tonga could adopt bitcoin as a legal tender by November this year. He adds that the bill would get to the House between September and October.
The Tongan royalty has reportedly collaborated with Jack Mallers, Strike CEO and a contributor to El Salvador’s BTC project, to build a legal framework supporting the bill.
Fusitu’a has been championing the adoption of bitcoin in the island country, saying that it could make its citizens wealthy.
The former member of parliament points out the advantage of bitcoin as a remittance instrument that can be beneficial to Tonga citizens in long-term savings.
1. Sept/Oct Bill goes to Parliament. Passed.— Lord Fusitu'a (@LordFusitua) January 12, 2022
2. Sent to Palace Office for submission to His Majesty for Royal Assent.
3.<A month – HM as advised by Privy Council assents to Bill.
4. 2-3 Weeks Gazetted by Govt activation date set.
4. On activation date #BTC becomes legal tender. https://t.co/TNjQjeEbjN