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The Central Bank of Honduras, or BCH, addressed rumors regarding the country potentially adopting Bitcoin as legal tender like its neighbor El Salvador \u2014 and the answer seems to be negative.<\/p>\n
In a Wednesday statement, Honduras’ central bank said<\/a> \u201cfor the time being\u201d Bitcoin (BTC<\/a>) was not regulated in the country and not recognized as legal tender in many others. The BCH reiterated its authority under Honduras’ constitution that it was the only authorized \u201cissuer of banknotes and coins\u201d considered to be legal tender in the country. <\/p>\n \u201cBCH does not supervise or guarantee operations carried out with cryptocurrencies as means of payment,\u201d said the central bank, according to a translated statement. \u201cAny transaction carried out with these types of virtual assets is the responsibility and risk of those who do it.\u201d<\/p>\n The central bank added it was continuing to study \u201cwith the conceptual, technical and legal analysis\u201d the feasibility of introducing a central bank digital currency, or CBDC, in Honduras. The BCH said a CBDC would be considered legal tender in the country and regulated accordingly.<\/p>\n Related: <\/em><\/strong>As Bitcoin debuts in El Salvador, Honduras and Guatemala study CBDCs<\/em><\/strong><\/a><\/p>\n Several news sources reported<\/a> this week that Honduran President Xiomara Castro was considering recognizing BTC as legal tender. El Salvador, which borders Honduras to the west, adopted the crypto asset as legal tender in September 2021 and has since planned to construct a $1-billion \u201cBitcoin City\u201d<\/a> with crypto mining operations powered by geothermal energy from the country\u2019s volcanoes. <\/p>\n Holy cow! This is BIG news if true! Reports saying that Honduras may be next to make #bitcoin<\/a> into legal tender! https:\/\/t.co\/vSD5R7AY1F<\/a><\/p>\n \u2014 Lark Davis (@TheCryptoLark) March 22, 2022<\/a><\/p><\/blockquote>\n Other countries have also been making pushes to follow El Salvador\u2019s example in adopting crypto. In February, a Mexican senator said she planned to introduce a bill<\/a> to the country\u2019s congress in 2022 proposing BTC become legal tender \u2014 the bill is modeled after El Salvador\u2019s Bitcoin Law. A lawmaker from the island nation of Tonga, more than 10,000 kilometers from Hondura, is also working on legislation which could see the country recognize cryptocurrencies as legal tender<\/a> by mid-2023.<\/p>\n<\/div>\n\n