HomeHonduras central bank denies plans of legalizing BTC

Honduras central bank denies plans of legalizing BTC

Sanne Moonemans

The Central Bank of Honduras, El Banco Central de Honduras, denied recent rumours suggesting legalizing Bitcoin as legal tender. Due to a publication of Techstory from anonymous sources, the rumour arose. Many big names in the crypto industry have since responded to the rumour that hit the headlines on March 22. For example, Lark Davis said the following:

“Holy Cow! This is big news if it's true! Reports Saying Honduras Could Be Next To Make Bitcoin Legal Tender!”

The BCH has now put an end to the rumours via a press release by debunking them. The message indicated that it has no plans to make Bitcoin legal tender. In addition, it was added that the Central Bank is the only legal tender issuer in the country. Communications from the apex bank were further channelled into a warning to active players in the digital currency ecosystem, as the BCH said the nascent asset class that characterizes the market is fraught with risks. The statement read:

“BCH does not monitor or guarantee any operations performed using cryptocurrencies as a means of payment,” a central bank statement said. “Any transaction performed with this type of virtual asset is the responsibility and risk of those doing it.”

The Apex Bank of Honduras has reiterated its push for the development of a Central Bank Digital Currency (CBDC). According to the bank, this is necessary to be able to chart a path in which it takes the growing sector. The announcement stated the following.

“We reiterate that, given the importance of adopting the technological innovation for the provision of payment and financial services, the BCH continues with the conceptual, technical and legal study and analysis to determine the feasibility of issuing a digital currency from the central bank (Central Bank Digital Currency -CBDC-, for its acronym in English) which has the hallmark of being recognized as legal tender in the country and therefore regulated and supported by the BCH.”

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