Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security

Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security

A former lawmaker from the island nation wants to use Bitcoin to secure his country’s financial security. A former member of the Tongan Parliament is behind a proposal to make Bitcoin (BTC) legal tender in the tiny Pacific nation of Tonga, following in the footsteps of El Salvador. It’s due for a vote in Parliament in May and the early signs are encouraging.Mataʻiʻulua ʻi Fonuamotu, Lord Fusitu’a told Cointelegraph that plans are in motion to use state-run volcano mining facilities to create wealth in Tonga. Tonga has 21 volcanoes. “That means one volcano for every 5,000 people.” He owns....


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