Bulgaria's Deputy Prime Minister for EU Funds Affairs and Minister of Finance Asin Vasiliev said that his country is exploring options to introduce a payment mechanism in cryptocurrencies.
Vasilev said, according to Bloomberg, that the Bulgarian government is in discussions with the Bulgarian National Bank as well as industry participants to explore crypto payments in the short to medium term.
However, Vasiliev added that Bulgaria is unlikely to become a major hub for cryptocurrency miners - with many considering leaving Kazakhstan amid political turmoil and internet disruption, he said. Rose.
The Bulgarian government may still be one of the world's largest custodians after seizing 21,3519 Bitcoin (BTC) from the underground crime network ahead of the 2017 bull run - worth 3.5 billion About $8 at the time, but more than $8.2 billion as of Saturday. It is not clear whether officials sold or auctioned cryptocurrencies at the time, or continued to hold the digital assets.
As a member of the European Union, Bulgaria is one of only 8 countries that have not adopted the euro and will not necessarily benefit from the introduction of a digital euro among participating central banks.
In June 2021, government officials and the Bulgarian National Bank said they intended to adopt the euro from 2024.
European Central Bank President Christine Lagarde said in March that the digital currency may not be introduced until 2025, if not then.
