The Kingdom of Tonga may adopt bitcoin as legal tender, according to a former member of Tonga’s parliament, Lord Fusitu’a, who tweeted about a possible timeline for this event to occur. Fusitu’a believes that by next fall a bill will be passed by Tonga’s parliament and bitcoin could be legal tender in the region by November.
Former Member of Tonga’s Parliament Lord Fusitu’a Claims Bitcoin Bill Could Be Passed in Order to Make the Crypto Asset Legal Tender
Tonga’s chairman of the Commonwealth Pacific Parliamentary Group on Human Rights, Lord Fusitu’a, is a bitcoin advocate and on January 11, he explained on Twitter that the Kingdom of Tonga’s government may adopt bitcoin as legal tender. The news follows El Salvador’s push to make bitcoin (BTC) legal tender last year. A few months ago, the law was codified by the Salvadoran congress and BTC was deemed legal tender in El Salvador.
Lord Fusitu’a, who was once a member of Tonga’s parliament, claims the same thing will happen in Tonga. On Tuesday, an individual asked Lord Fusitu’a what the ETA was in regard to the Polynesian country legalizing bitcoin as tender.
“Sept/Oct Bill goes to Parliament. Passed,” Lord Fusitu’a replied. “[It gets] sent to Palace Office for submission to His Majesty for Royal Assent. A month – HM, as advised by Privy Council, assents to Bill. 2-3 Weeks Gazetted by Govt activation date set.”
Lord Fusitu’a added:
On activation date [bitcoin] becomes legal tender.