The island country located in the Caribbean region – Saint Kitts and Nevis – plans to turn Bitcoin Cash (BCH) into an official payment method inside its borders by March next year.
The announcement positively affected the asset’s price, which jumped above $100.
- The Prime Minister of Saint Kitts and Nevis – Terrance Micheal Drew – disclosed that the government is willing to engage with Bitcoin Cash mining and make the asset legal tender on local soil by March 2023.
- The leader opined that the cryptocurrency represents “future opportunities” and said the initiative will go live once regulators guarantee consumers will have maximum protection.
នាយករដ្ឋមន្រ្តី St. Kitts and Nevis 🇰🇳 ទើបតែប្រកាសថា # ប៊ីធាក់ខេស៊ីស នឹងក្លាយជាការដេញថ្លៃស្របច្បាប់នៅក្នុងប្រទេសរបស់គាត់នៅខែមីនា ឆ្នាំ 2023។ ជំហានដ៏ធំមួយសម្រាប់ BCH ដោយសារតែគ្មានប្រទេសណាអាចហាមឃាត់រូបិយប័ណ្ណរបស់ប្រទេសដទៃបានទេ។ ការប្រើប្រាស់ដ៏ធំជាមួយនឹងកម្មវិធីថ្មីដ៏អស្ចារ្យគឺបន្ទាប់។ pic.twitter.com/WjnaZxGv50
- គីមដតខុម (@ គីមដតថេត) ខែវិច្ឆិកា 13, 2022
- BCH jumped to around $103 immediately following the speech and still trades above $100. Still, this is far away from the 2021 price levels when it surpassed $1,500. The all-time high occurred in 2017 when it traded at over $4,300.
- Bitcoin is the only digital asset that currently serves as legal tender. The first country to ចាប់យក it was El Salvador in 2021.
- សាធារណរដ្ឋអាហ្វ្រិកកណ្តាល។ តាម suit this year. The President of the nation – Faustin-Archange Touadéra – បានប្រកែក that “bitcoin’s “disruptive power” will bring “long-term prosperity.” He also urged people to understand the benefits of the asset as it could serve as a lifeboat during the ongoing adverse economic times.
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Source: https://cryptopotato.com/saint-kitts-and-nevis-to-make-bitcoin-cash-legal-tender-in-2023/