The leadership of the crypto-friendly charter city of Próspera in Honduras has hit back at reports it is facing a backlash from residents of the neighboring community of Crawfish Rock over its expansion plans. A Tuesday article from The Guardian reported the special economic zone, touted as an island paradise with low taxes/fiscal responsibility, luxury homes and crypto-friendly regulation, has seen pushback from some residents of the Crawfish Rock community. Some residents are reportedly concerned about being displaced from their homes due to Próspera’s potential expansion plans, with the article describing the project’s headquarters as sitting “amid a landscape scarred …

Few crypto enthusiasts around the world could point to the remote island of Roatán prior to the Bitcoin 2022 conference in Miami. Dušan Matuska was one of them, a Bitcoin (BTC) educator whose plans to open a Bitcoin education center in a former brewery entangled with the Satoshi Nakamoto-inspired vision of a special economic zone in Honduras called Próspera. Located on Roatán, Próspera accepts Bitcoin as de facto legal tender as of April 2022. But how did a Slovakian Bitcoin miner stumble across one of the few locations worldwide to accept Bitcoin as de facto legal tender? And, what does …

The Central Bank of Honduras, or BCH, addressed rumors regarding the country potentially adopting Bitcoin as legal tender like its neighbor El Salvador — and the answer seems to be negative. In a Wednesday statement, Honduras' central bank said “for the time being” Bitcoin (BTC) was not regulated in the country and not recognized as legal tender in many others. The BCH reiterated its authority under Honduras' constitution that it was the only authorized “issuer of banknotes and coins” considered to be legal tender in the country. “BCH does not supervise or guarantee operations carried out with cryptocurrencies as means …

Two Central American countries, Honduras and Guatemala, are taking a cue from their common neighbor’s adoption of Bitcoin (BTC), but they are taking a very different road. Instead of embracing an existing cryptocurrency as a legal tender, like what El Salvador did, the central banks of Honduras and Guatemala are currently studying central bank digital currencies (CBDC). Following the approval of the board of directors, the Central Bank of Honduras kicked off a study “to determine the feasibility of conducting a pilot test issuing its own digital money or a central bank digital currency,” according to Honduras central bank president …

Amid Bitcoin (BTC) becoming legal tender in El Salvador, another country in Central America is progressing on its way to enable freedom to use cryptocurrencies like BTC and Ether (ETH). On Monday, the Republic of Panama introduced a bill on regulating cryptocurrencies, aiming to make the country “compatible with the blockchain, crypto assets and the internet.” Announcing the news on Twitter, Panamanian pro-crypto congressman Gabriel Silva stressed that the new legal initiative has the potential to generate thousands of jobs, create new investment sources, as well as make the government “more transparent.” According to the draft bill document shared by …

TGU Consulting Group, a Honduran company based in the capital of Tegucigalpa, has reportedly installed the country’s first Bitcoin ATM. According to a Friday Reuters report, TGU chief executive Juan Mayen led the move to install the Bitcoin (BTC) ATM in one of the capital’s office buildings. The “la bitcoinera” machine allows crypto enthusiasts to purchase BTC and Ether (ETH) using the local fiat currency, lempira, provided they are willing to scan their IDs and disclose certain personal information. Mayen said this was the first automated way to purchase Bitcoin in Honduras, but many software developers had been accepting crypto …

Agricultural startup GrainChain backed by Medici Ventures, the blockchain venture arm of online retail giant Overstock, plans to unite the coffee industry of Honduras by delivering its blockchain platform to a network of local stakeholders. The firm has signed several agreements with the aim of bringing the entire coffee supply chain of Honduras together on its blockchain platform, according to the press release published on Sept. 24. One of the world’s biggest coffee producers By launching the initiative, GrainChain intends to facilitate multiple processes in the coffee supply chain of Honduras, where coffee has historically been one of the major …

For timely updates on price updates, follow me @sammantic Price at the time this article was written is: US$235.69 Last week the article began with: “The indicators continue to remain in neutral territory. This move still appears to have limited upside and appears to be topping out as volume and momentum have not followed the price higher and many of the indicators have flattened out. While there have been some improvements in price in the short term, nothing has changed as far as the long-term trend goes. The price broke through 240 only to come back down and now sits …

The government of Honduras will partner with Houston-based Bitcoin 2.0 startups Factom and Epigraph to build a land registry database for the Central American nation using the Bitcoin blockchain, according to Reuters on Yahoo News. The details of the project are currently still a bit fuzzy, as it is not entirely clear how, or to what degree, the Bitcoin blockchain will be used. Based on Factom's advertised model, however, it does seem likely that the construction involves a symbiosis of both decentralized databases build on top on the blockchain and centralized ones stored by either Factom, the Honduran government, or …