Photo: 123rf The bank said it was compelled to issue a release after social media posts and mainstream media said bitcoin could become legal tender. The statement followed a splurge in public discourse over the merits of bitcoin by the Niuas Noble's Representative Lord Fusitu'a. The release said anyone who offered investments in crypto-assets such as bitcoin in Tonga would need a licence, and no licence had been issued to any business for this. It also denied any plans were afoot to utilise Tonga's foreign exchange reserves to invest in cryptocurrency, and emphasised that foreign exchange reserves were bound to be invested in "high-quality assets with low credit risk", taking into account internationally recognised credit ratings.