- Oct 25, 2021
- Reaction score
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
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
Lord Fusitu’a added:
On activation date [bitcoin] becomes legal tender.
Former Lawmaker Claims Bitcoin Bill to Be Submitted in the Fall, Lord Fusitu’a Discussed Benefits of Tonga Adopting Bitcoin Last Year
After Lord Fusitu’a tweeted out the five-point plan, a person
It’s not the first time Lord Fusitu’a has hinted about Tonga legalizing bitcoin as tender in the country. On July 5, 2021, on the podcast
“The economy will first benefit by every customer having a disposable income increased by 30% and because our country imposes a 15% VAT, every person is putting an extra 30% into that 15% VAT, because they’ve got an extra 30% disposable income just from the rails,” Lord Fusitu’a said on the show.
On the podcast, Lord Fusitu’a further explained:
Simultaneously with that extra 30%, there’s some are going to be saving it rather than putting it into the economy and stacking sats which will appreciate. For the first time, someone who’s a village fisherman, and has been hand to mouth all his life, has a glimpse at possibly having savings that might be the foundation for financial freedom.
As of now, it is uncertain whether or not Tonga’s active parliamentary members and the Tongan people will be willing to adopt bitcoin as legal tender. While El Salvador passed the bitcoin law, which was
What do you think about the former member of Tonga’s Parliament hinting about the country adopting bitcoin as legal tender? Let us know what you think about this subject in the comments section below.