Tonga to copy El Salvador bill making Bitcoin legal tender says former MP
Another domino is lined up to fall down the route to Bitcoinization. Yesterday, the Pacific island nation of Tonga shared a play-by-play approach to adopting Bitcoin (BTC) as legal tender.
In a series of Tweets, Lord Fusitu’a, a former Member of Parliament for Tonga, released an ETA for Bitcoin becoming legal tender in Tonga. Copying the El Salvadorean playbook, the move could onboard more than 100,000 Tongans onto the Bitcoin network.
In his five-point plan, the Chairman of the Global Organization of Parliamentarians Against Corruption (GOPAC) describes the adoption path:
1. Sept/Oct Bill goes to Parliament. Passed.2. Sent to Palace Office for submission to His Majesty for Royal Assent.3.<A month - HM as advised by Privy Council assents to Bill.4. 2-3 Weeks Gazetted by Govt activation date set.4. On activation date #BTC becomes legal tender. https://t.co/TNjQjeEbjN
In a follow-up comment, Fusitu’a said the bill is “modeled on and is almost identical to the El Salvador Flag of El Salvador bill.”
The announcement sowed the seeds for questions, predictions and outright jubilation from Bitcoin Twitter before the Tongan set the record straight. He enthusiastically replied that the timeline for BTC becoming legal tender could happen as early as November or December this year, replying “Boom! That’s us, brother!” in a tweet.
In 2021, it was widely speculated that Tonga could become one of the next countries to adopt BTC as legal tender. Speculation reached a fever peak following a podcast Lord Fusitu’a undertook with Bedford-based Bitcoiner Peter McCormack.
During the conversation, the then Member of Parliament shared the remittance case for adopting BTC as legal tender. He said adoption would provoke:
Tonga is a remote island
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