Fiji Could Legalize BTC As A Legal Tender As Its New Pro-Bitcoin PM Begins Official Duties

Lord Fusitu’a, a former Tonga MP, believes that in 2023, both Tonga and Fiji should recognize bitcoin as legal cash.After winning the nation’s elections earlier this month, Sitiveni Rabuka was elected as Fiji’s 12th Prime Minister. The 74-year-old is a supporter of bitcoin and is more well known by his moniker “Rambo.”Lord Fusitu’a, a former Tonga legislator, praised the Rabuka for his accomplishments and backed the notion of Fiji and Tonga adopting the main cryptocurrency as legal money in 2023.

The People’s Alliance Party (PAP), led by Sitiveni Rabuka, has assumed power as the Republic of Fiji’s new dominant political party. The politician succeeds former prime minister Frank Bainimarama and has previously led the island country. Deputy Prime Minister Biman Prasad will take that position.A meeting between Rabuka and Lord Fusitu’a, a Tongan nobleman, to discuss renewable bitcoin mining and how it may help Fiji was made public last year.He tweeted one again early today (December 29), praising Prasad and “Rambo” for their performances. Lord Fusitu’a also asked Fiji’s newly elected administration to learn more about cryptocurrencies and accept bitcoin as a legitimate form of payment alongside Tonga in 2019. If Fiji and Tonga adopt such steps, they would join El Salvador and the Central African Republic as the third and fourth nations in the world to recognize bitcoin as legal cash.Similar to the country in Latin America, the Pacific islands might use the power from their active volcanoes to mine bitcoins. The introduction of the main digital asset to the populace might also broaden financial inclusion in Fiji.

Tonga’s Possible Structure

The Polynesian nation made clear that it intended to make Bitcoin official money at the start of 2022. According to rumors, Lord Fusitu’a and Jack Mallers, CEO of Strike, collaborated to launch the bitcoin project in Tonga.The former MP said that if the country adopted the digital asset, it might become more “competitive and affluent.”

An economy where payments made with bitcoin is accepted at all points in the supply chain. To the table from the seed. From the farmer supplier to the waitress delivering it to you at Kardo’s steak bar and every step in between, pay for cassava roots and cattle with bitcoin, the speaker said.The measure establishing bitcoin as legal cash in Tonga, according to Lord Fusitu’a, ought to have been introduced in Parliament in September or October. The governing council has not yet approved such laws.

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