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 …

El Salvador President Nayib Bukele has claimed officials will be able to use geothermal energy from one of the country’s inactive volcanoes to power its Bitcoin City project. In a Sunday notice, Bukele said there was a 90% probability of using the Conchagua volcano to supply 42 megawatts — “enough to provide energy to the entire Bitcoin City,” according to the president. The El Salvadoran leader said the state-owned electrical company LaGeo was continuing to increase its production of geothermal power from different volcanoes in the country, with one of the sites believed capable of producing 95 MW. Conchagua, located …

Tim Draper of Draper Associates and Draper Fisher Jurvetson Tim is a pioneer of business ventures in the United States and a co-founder of Draper Fisher Jurvetson, a leading investment firm in early-stage tech startups. “I expect the best regulators to embrace the new technology and innovation that comes with it. I expect the worst regulators to try to block it. Bill Clinton was smart to just let the internet run and see what happened. That brought in huge economic value to America. The countries that use a light touch or no touch governance will be the big winners over …

Yat Siu of Animoca Brands Yat is the co-founder and executive chairman of Animoca Brands, which delivers digital property rights to the world’s gamers and internet users, thereby creating a new asset class, play-to-earn economies and a more equitable digital framework contributing to the building of the open Metaverse. “Regulation will start to become more defined in 2022, although how, exactly, remains to be seen. 2021’s milestone was probably the substantial growth in public awareness of blockchain — Collins Dictionary even declared ‘NFT’ the word of the year.” These quotes have been edited and condensed. The views, thoughts and opinions …

Before June 2021, news regarding Nayib Bukele was likely not even a blip on many crypto users’ radar screens. The Salvadoran president instead made headlines for allegations of corruption and dictator-like behavior after his party’s congressional majority sacked five members of the country’s Supreme Court and its attorney general. During the Bitcoin 2021 conference in Miami, however, Bukele stunned many participants and garnered international attention by announcing he planned to have El Salvador adopt Bitcoin (BTC) as legal tender. Within a week, a supermajority of the Salvadoran Legislative Assembly — most members of Bukele’s own party — had passed the …

El Salvador’s government, led by President Nayib Bukele, has moved ahead with plans to issue Bitcoin bonds by preparing 20 bills designed to provide a legal framework for them. Head of the Treasury Alejandra Zelaya told El Salvadoran media El Mundo on Jan. 4 that the bills will cover regulations about issuing securities as cryptocurrency to ensure the viability of the Bitcoin bonds that were proposed in Nov. 2021. He said: "[This is] to provide a legal structure and legal certainty to everyone who buys the Bitcoin bond." However he did not propose a timeframe for the legislation to be …

Last year, El Salvador became the first country to adopt Bitcoin as legal tender under Bukele’s presidency as a countermeasure to the growing inflation in the country. Since legalization, the president acquired 1,370 BTC for the country’s reserve and reinvested its unrealized gains into new infrastructure projects including a hospital and a school. President Bukele predicted that two more countries will join El Salvador to adopt Bitcoin as a legal tender in 2022. In the same year, he expects a bull run that will take BTC price to a new all-time high of $100,000. On Jan 2, El Salvador President …

As digital asset prices had been hitting new historical highs in 2021, many jurisdictions were increasingly adopting cryptocurrencies like Bitcoin (BTC) and other crypto-based instruments. In addition to Bitcoin crossing $68,000 for the first time since inception, the year of 2021 will be remembered for Bitcoin’s historical adoption as legal tender in El Salvador. The world’s first-ever Bitcoin exchange-traded fund (ETF) was also inaugurated in 2021, alongside many other benign regulatory developments around the world. As we glance back at notable global regulatory moments in 2021, Cointelegraph has picked some of the most memorable instances of friendly crypto regulation. 1. …

It is that time of the year: Singular events must be abandoned in favor of end-of-year, big-picture narratives and yearly lessons learned. As many governments across the globe finally had to face the rapidly mainstreaming realm of digital finance, the year is packed with developments in crypto policy and regulation that are impossible to fit into a neat little summary. However, it is possible to try and distill several major trends that have come to the fore during the past 12 months, and that will keep shaping the relationship among societies, state power and the crypto space as we roll …

Some of the money from El Salvador’s state-issued Chivo wallets is reportedly missing, according to many Salvadorans posting on social media. In a Dec. 16 Twitter thread started by user “the commissioner,” at least 50 people in the country have reported losses totaling more than $96,000 in December following the government setting up the Bitcoin (BTC) wallets. Some of the transactions the users claim went to their Chivo accounts were for as little as $61, but others said they were missing thousands or more. 2- $3,921 pic.twitter.com/fvP8aLHQyP — El Comisionado (@_elcomisionado_) December 18, 2021 “There is a security flow on …

Another year has come and gone in the cryptocurrency industry, leaving behind an ocean of developments, drama, price swings and innovation — all moving at a breakneck pace that even Barry Allen would have a hard time keeping up with. Similar to previous years, Twitter has yet again served as a hotbed of crypto industry discussion in 2021. Over the past 12 months, Bitcoin (BTC) rode a price rollercoaster, nonfungible tokens (NFTs) sold for millions of dollars and Dogecoin (DOGE) reached illogical price highs — and that’s just the tip of the iceberg. Twitter, of course, sat right in the …

On Thursday, President Nayib Bukele of El Salvador reaffirmed his belief forBitcoin (BTC) supremacy on Twitter once again, this time stating that after widespread adoption occurs, "it's game over for fiat." The Salvadoran president has been a mainstay in news headlines due to his regular BTC purchases and absolute pro-Bitcoin stance. He has made frequent statements and comments to support the original cryptocurrency while refusing to budge in the face of criticism that Bitcoin is a bad idea for the nation. Related: El Salvador buys a smokin’ hot 420 more Bitcoin President Bukele's recent tweet comes as the international community …