Is There any other country except El Salvador using BTC as legal tender?

[tbct_mt2]

There are dozen of nation which are readily to launch their CBDCs. Follow up CBDC growth with https://cbdctracker.org/

I could be wrong but I do believe that those nations that have their CBDCs will have legal tender for Bitcoin and cryptocurrency. I know governments don't like Bitcoin and cryptocurrency but if they launch their CBDCs, they don't have convincing reasons to not give Bitcoin and cryptocurrency legal tender.

[DdmrDdmr]

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I’d vouch for the opposite: Launching a CBDC, whilst setting a foot in the crypto playing field, is really an extension of the FIAT system and the currency within the country. Adapting bitcoin as legal tender from there is still a very big leap, as it represents losing government power and grip over the currency (i.e. no printing machine in bitcoin).

There are likely a bunch of countries looking into the possibility of doing it, but the question they keep asking themselves, I figure, is whether the benefit to their economy is substantial enough (and ensured) to change the control paradigm over their legal tender.

[DooMAD]

I could be wrong but I do believe that those nations that have their CBDCs will have legal tender for Bitcoin and cryptocurrency.

I’d vouch for the opposite: Launching a CBDC, whilst setting a foot in the crypto playing field, is really an extension of the FIAT system and the currency within the country. Adapting bitcoin as legal tender from there is still a very big leap, as it represents losing government power and grip over the currency (i.e. no printing machine in bitcoin).

I'd probably phrase it even more strongly than that.  Various governments have been talking about the supposed benefits of CBDCs, like increased financial inclusion for the unbanked and such.  However, I'm far from convinced that any of that is actually true and strongly suspect they just want far greater surveillance and control over peoples' spending habits.  I don't believe for a second that they would invest time, money and effort into creating their perfect spyglass/intercept/expropriation tool, just to then undo a large part of their new-found gains in power by handing greater autonomy back to the people by encouraging them to use peer-to-peer money.  It's just not realistic.

I think the primary cohort of nations adopting crypto will be the ones openly waving their middle finger at the IMF/US/general Western hegemony/etc.

[famososMuertos]

Hi, Op.
It is a recurring question on the forum, every so often it happens after September 7, 2021.

Candidates: Yes, No. Always the applicants are created mainly based on rumours, these rumors are based on some law, a president who mentions his sympathy for Bukelee, sorry for Bitcoin and social networks, mainly Twitter, the main viral source of countries that could accept bitcoin, a recent example;
The Honduran flag.

Then there are the specialists who are mainly based on the previous point and create blogs or digital news, some are true, others are half-truths and others are fake news.

Is There any other country except El Salvador using BTC as legal tender?

No.

[tbterryboy]

Legal Tender is something we do not need, that is the top level that bitcoin could reach in the world and that is great but not really needed. If we could have the whole world using bitcoin as a legal tender, then the adoption would be through the roof and the price would be over a million dollars in a single day.

However, in order to grow, just getting favorable laws that support it with minimal regulations could be done and it would be great. Even if nations removed KYC today, the price of bitcoin would reach to 100k+ in a few hours very easily. This means that instead of legal tender, we should just hope for a great supportive law for cyrpto all over the world. Not just making it legal, but making it legal in a good way.

[ariinv]

Following El Salvador’s lead, a number of countries and jurisdictions are now planning to make Bitcoin (BTC) legal tender as well. However, doing so might be a bit more difficult in some areas such as Mexico, according to the country’s third-richest man, billionaire Ricardo Salinas.

[Argoo]

Is there any other country with a serious plan to choose BTC as legal tender?


Based on the essence of the question, I do not think that it is put correctly. Now there are many states that use bitcoin as legal tender. The first among them was probably Japan, which legalized bitcoin and other cryptocurrencies in this capacity in April 2017. A feature of El Salvador is that this state uses bitcoin as a national currency. Until that time, El Salvador did not have its own national currency, and the country used the dollar as the currency. The example of El Salvador may be followed by similar underdeveloped states, but so far there are only rumors about this.

[LUCKMCFLY]

Well, already in Brazil, the congress approved the entry of BTC through a project to regulate it, this clearly shows that BTC will enter Brazil and this is very good, we know very well that Brazil is one of the countries that has the most open path to become a developed country in South America, therefore it is a country that cannot be left behind with respect to cryptocurrency technology and especially regarding BTC, the most positive of all this is that much more demand will enter the market, making that the price of btc tends to rise, a good option for now is to buy, I don't see it unreasonable, it doesn't matter if it goes down a bit, but it is a good time to buy.

[barbara44]

Is there any other country with a serious plan to choose BTC as legal tender?


You know, when I actually found out about the second country that adopted BTC as a legal tender, I was in total shock . The country happens to be one of the world’s poorest but actually rich in diamonds, gold and uranium. But surprisingly, Lawmakers voted unanimously to adopt Bitcoin as legal tender in this country and now they have become one of the world’s boldest and most visionary countries.

El Salvador became the first country to adopt it, then after the Central African Republic became the second country to adopt BTC as a legal tender.. Now you know there is another country in line with El Salvador!!

[ariinv]

The Central African Republic has adopted bitcoin as legal tender, the president's office said Wednesday, becoming the second country in the world to do so after El Salvador.