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Bitcoin Cash to be legal tender in St. Kitts and Nevis

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2 weeks ago

In the midst of the crisis that has rocked the crypto industry due to the FTX debacle, some cheering news has surfaced concerning mass adoption of cryptocurrency. The announcement was largely overshadowed by the bad news concerning FTX collapse which was the headline of mainstream media outlets. This doesn't come as a surprise though as someone once said :

"there's no news like bad news".

While everyone was so fixated on the FTX fallout , the government of St. Kitts and Nevis announced on Saturday, 12th November that it was considering utilizing Bitcoin cash as legal tender from around March, 2023.

The announcement was made by the country's Prime Minister, Terrance Drew who also doubles as its Finance Minister as part of a broader plan to introducing cryptocurrencies in the country. He further stated that the crypto revolution had the potential of bringing enormous benefits as well as business opportunities to the country.

This move by St. Kitts and Nevis is a huge plus in mass adoption of Bitcoin cash as it is hoped that other nations will follow suit if the use of Bitcoin Cash as legal tender is successful over there. It is important to state that Bitcoin cash is already being used by individuals for payments in the country as a video emerged before now of payments being made via Bitcoin cash by her citizens.

Except I am wrong this is the first time a country is considering Bitcoin cash as legal tender as previous countries that have officially adopted cryptocurrencies such as El Salvador and Central African Republic had opted for Bitcoin.

Let's keep our fingers crossed and hope that the St. Kitts and Nevis experiment with Bitcoin cash turns out to be a huge success and a significant milestone in global adoption of Bitcoin cash as legal tender.

Thank you for reading.

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Comments

This will be interesting to watch play out. I personally have sent and received Bitcoin Cash more than any other crypto.

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