Fiji’s New Pro-Bitcoin Prime Minister Ponders Legal Tender Bill: Report

Pro-Bitcoin person Sitiveni Rabuka precocious took bureau arsenic the caller Prime Minister of the Pacific Islands of Fiji. Now, it seems the caller PM is actively considering the adoption of bitcoin arsenic ineligible tender there.

While Rabuka himself hasn’t been precise nationalist astir his opinions connected Bitcoin frankincense far, Lord Fusitu'a, a noble and erstwhile subordinate of parliament of neighboring federation Tonga, has reportedly confirmed that the Fijian person is simply a bitcoin bull.

"The caller PM is decidedly pro-Bitcoin," Lord Fusitu'a assured Cointelegraph.

Lord Fusitu'a besides shared the quality connected Twitter.

"A caller pro-#Bitcoin affable Prime Minister successful the South Pacific. Fiji’s recently elected Prime Minister @slrabuka," Lord Fusitu'a wrote, tagging Rabuka.

In the 2nd portion of his tweet, Lord Fusitu'a hinted astatine the ineligible tender legislation. "Let’s spell 2 for 2 - BTC Legal Tender Bills for the Pacific successful 2023," the tweet reads, hinting astatine Tonga’s ain Bitcoin ineligible tender authorities that could reportedly spell unrecorded as aboriginal arsenic Q2 2023. The Bitcoin imagination first started brewing successful Tonga close aft El Salvador’s Bitcoin Law came into effect.

Now, Fiji could beryllium adjacent successful bringing BTC nether its explanation of ineligible tender. Lord Fusitu'a told Cointelegraph that Fiji’s caller Prime Minister "asked to conscionable with maine which we did via zooms since past twelvemonth to locomotion him done measurement by step, however helium could follow bitcoin ineligible tender."

Both countries could payment tremendously from bitcoin adoption successful 2 circumstantial areas; remittances and mining.

Remittances sent to Fiji accounted for 11.3% of the country’s gross home merchandise (GDP) successful 2021, per World Bank data. Tonga’s concern is adjacent much melodramatic –– remittances were a whopping 45.5% of the nation’s GDP in 2021.

When it comes to mining, some countries tin instrumentality vantage of their geology. Being volcanic islands, determination is simply a batch of accidental to experimentation with and nett from bitcoin mining. Moreover, Fiji besides boasts important hydro capacity.