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Tongan MP plans bill to make bitcoin legal tender

Tongan MP plans bill to make bitcoin legal tender



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  1. tldr; A member of Tonga’s parliament plans to draft legislation to make the cryptocurrency bitcoin legal tender in the kingdom. Tonga is highly dependent on remittances, but for people to send their earnings back to the country, agencies such as Western Union take a 30% cut, on average. Lord Fusitu’a said cryptocurrency cuts out the middle man. The bill will go before parliament for consideration in May next year.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. What is happening in El Salvador does not leave any “small” country excluded from the current system indifferent.

    All of these countries see that standard Bitcoin will change the lives of the people of El Salvador for the better. Bitcoin offers El Salvador opportunities that the current system has never given it.

    Other countries will logically follow.

  3. That would attract much economic and investment interest in Tonga. Attracting crypto into Tonga at the low, making for some wealthy Tongans as markets rise. If you can have the strength of your convictions to push it through. But one man does not a law make, as good as it sounds.

  4. Looks like Bitcoin is ushering out the old lumbering empires and ushering in new independently wealthy small sovereign states.
    History is being written Infront of our eyes. It’s incredible.

What do you think?

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