• About Us
  • Privacy Policy
  • Contact Us
Coinpress
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
coinpress
No Result
View All Result
Home Regulation

‘Bitcoin Valley’ Opens In Honduras Town In Hopes Of Attracting Tourists

by Press Release
December 13, 2022
in Regulation
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Honduras has broken grounds for “Bitcoin Valley,” a project in the country’s booming town of Santa Lucia, in an effort to attract crypto investors from around the globe.

Honduras is the most recent Central American nation to promote a municipality’s use of cryptocurrency as a payment method. According to a report by Reuters, a variety of Santa Lucian companies now accept Bitcoin as payment.

The “Bitcoin Valley” project aims for 60 firms to receive training and adopt cryptocurrencies to sell their products and services, with the expectation that these practices would spread to further businesses in the area. Santa Lucia is a short drive from Tegucigalpa, the capital of Honduras.

Related Reading | Ethereum Vs Bitcoin: Vitalik Buterin Calls Michael Saylor A ‘Total Clown’ – Here’s Why

Cesar Andino, manager of the Los Robles shopping center, said:

“It will create more chances and attract more individuals who wish to utilize this currency.”

Not To Be Outdone, Honduras Builds Own Bitcoin Hub

Honduras’ latest announcement comes roughly 10 months after its neighbor El Salvador made Bitcoin legal tender. El Salvador also has in its coffers millions of dollars worth of BTC.

Following the legalization of BTC as legal tender in El Salvador, tourism increased by around 30 percent. Nonetheless, given the most recent decline in Bitcoin’s price, the nation faces certain hurdles.

“We must globalize. We can’t block ourselves off from technology and we can’t be left behind when other countries are already doing it,” Andino stated in a report translated by the local newspaper Diario La Prensa.

According to Reuters, the crypto initiative was officially inaugurated on Thursday and was a collaboration between the Technological University of Honduras, Blockchain Honduras, the Guatemalan cryptocurrency exchange Coincaex, and the municipality of Santa Lucia.

Image: AF24News

Bitcoin As Legal Tender

Central American nations have been evaluating crypto efforts to better assess their hazards and advantages. In April of this year, the Honduras Economic Zone recognized Bitcoin as legal cash and authorized crypto tax payments. Additionally, it has enabled entities to issue BTC bonds.

In addition to promoting merchant acceptance, the program intends to promote local Bitcoin and cryptocurrency education. Local students and businesspeople have the opportunity to enroll in a month-long course on BTC and related technologies.

Professor Ruben Carbajal Velazquez of the Technological University stated:

The community of Saint Lucia will be trained on how to use and handle cryptocurrency, applying them in regional companies and developing crypto-tourism.

Meanwhile, the International Monetary Fund has raised alarm over El Salvador and the Central African Republic adopting bitcoin as official tender. Furthermore, it has been asserted that DeFi poses a threat to financial markets and requires regulation.

Suggested Reading | Ethereum Creator Says Facebook’s Metaverse Attempt Will Fail

BTC total market cap at $443 billion on the daily chart | Source: TradingView.com

Featured image from CoinXhigh, chart from TradingView.com



Source link

READ ALSO

Arizona Senator Pushes Bill To Make Crypto Legal Form Of Currency

How New Jersey’s Potential NFT Regulation Can Set Poor Precedent

Tags: AttractingBitcoinHondurashopesOpensTouristsTownValley

Related Posts

Arizona Senator Pushes Bill To Make Crypto Legal Form Of Currency
Regulation

Arizona Senator Pushes Bill To Make Crypto Legal Form Of Currency

January 26, 2023
How New Jersey’s Potential NFT Regulation Can Set Poor Precedent
Regulation

How New Jersey’s Potential NFT Regulation Can Set Poor Precedent

January 20, 2023
Indian Regulator Gets Rid Of Its Only Crypto Exchange Body – Bane Or Boon?
Regulation

Indian Regulator Gets Rid Of Its Only Crypto Exchange Body – Bane Or Boon?

December 13, 2022
Bitcoin Gives Way To Ruble: Putin Signs Law Banning Crypto Payments In Russia
Regulation

Bitcoin Gives Way To Ruble: Putin Signs Law Banning Crypto Payments In Russia

December 13, 2022
Bitcoin Trading And Mining Will Now Be Regulated In Paraguay
Regulation

Bitcoin Trading And Mining Will Now Be Regulated In Paraguay

December 13, 2022
Regulation

What Did US Lawmakers Ask Miners Core Scientific, Riot, Marathon & Stronghold?

December 13, 2022

POPULAR NEWS

MonoDX Discloses the Future of Crypto Trading Automation

MonoDX Discloses the Future of Crypto Trading Automation

September 1, 2022
Be The First To Know About Ecoto

Be The First To Know About Ecoto

April 28, 2021
Avalon-WM Review  – Where Every Online Trader Should Trade

Avalon-WM Review – Where Every Online Trader Should Trade

February 19, 2021
AniFi World Ramps Up – Launches ANIFI Token After a Booming Presale on GemPad, Staking and More to Come

AniFi World Ramps Up – Launches ANIFI Token After a Booming Presale on GemPad, Staking and More to Come

September 2, 2022
Koinswap is launching its own layer-1 blockchain.

Koinswap is launching its own layer-1 blockchain.

September 3, 2022

EDITOR'S PICK

LinksDAO to Bid on Scottish Golf Course Following Vote

LinksDAO to Bid on Scottish Golf Course Following Vote

February 22, 2023
Litecoin Network Gets Its First NFTs After Developer Forks Bitcoin Ordinals

Litecoin Network Gets Its First NFTs After Developer Forks Bitcoin Ordinals

February 21, 2023
Indonesia Delays Crypto-Stock Exchange Launch Again, This Time Till June: Report

Indonesia Delays Crypto-Stock Exchange Launch Again, This Time Till June: Report

February 3, 2023
Australian Crypto Exchange Swyftx Cuts 90 Jobs Amid Crypto Winter

Australian Crypto Exchange Swyftx Cuts 90 Jobs Amid Crypto Winter

December 5, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation

Recent Posts

  • Alpha Sigma Capital Research Releases New Research on OriginTrail (TRAC) Blockchain's Impact on Supply Chain, Artificial Intelligence, Metaverse, and Social Media
  • US Govt Attacks Bitcoin In New Report, Promotes A CBDC
  • Bitcoin Price Will Hit $50,000 In Under A Year, This Economist Says
  • Born from the Doge, BitcoinCEO Devotes itself to Helping Stray Dogs from Around the World
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 coinpress.media

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 coinpress.media