Bitcoin is ‘not managed’– Honduras’ reserve bank presses back versus legal tender reports


The Central Bank of Honduras, or BCH, dealt with reports concerning the nation possibly embracing Bitcoin as legal tender like its next-door neighbor El Salvador– and the response appears to be unfavorable.

In a Wednesday declaration, Honduras’ reserve bank stated “for the time being” Bitcoin ( BTC) was not managed in the nation and not acknowledged as legal tender in lots of others. The BCH restated its authority under Honduras’ constitution that it was the only authorized “issuer of banknotes and coins” thought about to be legal tender in the nation.

“BCH does not supervise or guarantee operations carried out with cryptocurrencies as means of payment,” stated the reserve bank, according to an equated declaration. “Any transaction carried out with these types of virtual assets is the responsibility and risk of those who do it.”

The reserve bank included it was continuing to study “with the conceptual, technical and legal analysis” the expediency of presenting a reserve bank digital currency, or CBDC, inHonduras The BCH stated a CBDC would be thought about legal tender in the nation and managed appropriately.

Related: As Bitcoin debuts in El Salvador, Honduras and Guatemala research study CBDCs

Several news sources reported today that Honduran President Xiomara Castro was thinking about acknowledging BTC as legal tender. El Salvador, which borders Honduras to the west, embraced the crypto possession as legal tender in September 2021 and has actually because prepared to construct a $1-billion “Bitcoin City” with crypto mining operations powered by geothermal energy from the nation’s volcanoes.

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