St. Kitts and Nevis will explore the possibility of making bitcoin cash legal tender by March 2023. The statement was made by St. Kitts and Nevis Prime Minister Terrance Drew as part of the Bitcoin Cash 2022 Conference held in the country, declaring that Bitcoin Cash mining activities will also be explored in the same way.

Bitcoin Cash Could Become Legal Tender in St. Kitts and Nevis Next Year

The Government of St. Kitts and Nevis will be exploring the possibility of declaring bitcoin cash legal tender as part of the process of introducing cryptocurrencies into the economy of the country. The announcement was made by Prime Minister Terrance Drew, who participated in the Bitcoin Cash 2022 Conference on Nov. 12.

As part of his speech, Drew stated:

I welcome the opportunity to dialog further with a view to exploring opportunities for Bitcoin Cash mining and making bitcoin cash legal tender in St. Kitts and Nevis by March 2023 once the safeguards to our country and our people are guaranteed.

Drew explained that his country was aware of the possible advantages that adopting a cryptocurrency as a legal tender would bring, stating that many businesses on the island already accept bitcoin cash as a payment method. However, he was clear that this move could only be made after considering all the important aspects of such an endeavor, and complying with due diligence.

The move would follow in the steps of countries like El Salvador, which declared Bitcoin legal tender in June 2021.