Honduras' central bank issued a clarification on crypto assets and noted they are not legal tender or regulated in the country.
“Bitcoin is a financial asset that exists virtually , which at the moment in our country is not regulated and in most countries, it does not have the status of legal tender,” Honduras’ central bank letter explains.
The country’s central bank further details that the central bank of Honduras is the “only issuer of banknotes and legal tender coins in the national territory.” Honduras’ central banking system “does not supervise or guarantee the operations carried out with cryptocurrencies,” the bank’s notice highlights. Essentially, the bank points out that any transaction conducted with a virtual asset is the sole responsibility of “those who carry it out.
While bitcoin and other crypto assets are not regulated or legal in Honduras, the central bank says that it is still “considering the importance of adopting technological innovation.” The bank is continuing to study the technical and legal ramifications of “issuing a central bank digital currency .” A theoretical Honduras’ CBDC would have “the characteristic of being recognized as legal tender in the country and therefore is regulated and has the support of the [central bank of Honduras].”