Media: The Government of Fiji is going to recognize bitcoin as a means of payment

On Christmas Eve, the Parliament of the Republic of Fiji elected a politician who advocates creating a favorable atmosphere for the crypto industry as the country's prime minister.

The recently elected Prime Minister Sitiveni Rabuka, local media write, will take an active part in considering options for using military-technical cooperation as a legal tender, as well as using volcanic energy for mining crypto assets.

The results of research on the practical use of volcanic energy say that 21 volcanoes of the Fiji Islands will produce more than 2,000 MW of electricity per year. At the same time, the national electric grid consumes a little more than 40 MW per year, which means that there are "potential 1960 MW that can be redistributed for other purposes, including for mining." Fiji's 20-year development plan approved by the Government determines that by 2030 all electricity on the islands will be produced from renewable sources.

Bills on mining and bitcoin as a means of settlement should be submitted to the Parliament of Fiji during 2023.

At the beginning of the year, former British real estate investor Anthony Welch, together with his partners, announced plans to attract cryptocurrency investors to create a "cryptographic capital of the world" in the Vanuatu archipelago.