Parliamentarian of the Kingdom of Tonga proposes to list Bitcoin as a legal currency.

Parliamentarian of the Kingdom of Tonga proposes to list Bitcoin as a legal currency.

2021/10/5

According to reports, a member of the Pacific island nation of Tonga (The Kingdom of Tonga) recently expressed the hope that the country can follow the example of El Salvador and use Bitcoin as a legal currency. The Bitcoin advocate, Tongan parliamentarian, barrister, and hereditary Tongan landlord Lord Fositua stated that because the enthusiasm for the potential of cryptocurrency has swept emerging economies, he will propose a proposal for El Salvador in the next parliament in May 2022. The proposal suggests that Tonga should use Bitcoin as a legal currency together with the country's existing legal tender pa'anga. Before this, on September 7, 2021, El Salvador, a small Central American country, became the first country in the world to officially declare Bitcoin as a legal currency.


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