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

The Parliament of the Republic of Fiji on Christmas Eve elected a politician who advocates creating a favorable atmosphere for the crypto industry as the prime minister of the country. The newly elected prime minister, Sitiveni Rabuka, writes local media, will take an active part in considering options for using BTC as legal tender, as well as using volcanic energy to mine crypto assets. The results of studies on the practical use of volcanic energy say that the 21 volcanoes of the Fiji Islands will produce more than 2000 MW of electricity per year. At the same time, the national electrical grid consumes just over 40 MW per year, which means that there is “potential 1960 MW that can be redistributed to other purposes, including for mining”. Fiji's government-approved 20-year development plan stipulates that by 2030, all electricity on the islands will be generated from renewable sources. Bills on mining and bitcoin as a means of payment should be submitted to the Parliament of Fiji during 2023. At the beginning of the year, former British real estate investor Anthony Welch, along with partners, announced plans to attract cryptocurrency investors to create a “cryptographic capital of the world” in the Vanuatu archipelago.