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Honduras may officially recognize BTC as legal tender in coming days

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Honduras could be the next nation to formally recognize BTC as legal tender, following El Salvador.

Recently, the country’s president, Xiomara Castro, declared that El Salvador should not be the only country “escaping from dollar hegemony”.

Furthermore, he emphasized that it was Honduras’ right to “advance to the First World”. This may include a new financial system and modernizations for the nation.

In this sense, Castro stated that he will announce all the advance measures for the nation this week. Even without saying anything about BTC, he declared that it is time for the dollar to stop dictating the rules in the nation.

The statements coincide with those made by the president of El Salvador, Nayib Bukele, who said that in contact with other Central American nations, he has verified that his country will not be alone with regard to BTC.

Additionally, renowned cryptocurrency advocate Max Keiser, who was spending time in and around the region, tweeted the flag of Honduras on March 18, suggesting that something might indeed be happening there.

BTC in Honduras

To date, Honduras has no track record for or against cryptocurrencies. Recently, the nation got its first BTC and ETH ATM in the capital Tegucigalpa. The cashier will allow users to purchase the digital assets using the local currency Lempira.

Interestingly, Honduras – which borders El Salvador – is only the 40th country slated to allow cryptocurrency to be used as legal tender, according to community votes on CoinMarketCap.

The first three countries users predict will be the next to do so are Paraguay, Venezuela and Anguilla. Then comes the United States in fourth place.

The first country in the world to adopt BTC as a legal tender was El Salvador in the fall of 2021. However, polls show the general lack of trust of its people in this digital asset.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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