The Central African Republic is the second in the world to legalize bitcoin

The Central African Republic is the second in the world to legalize bitcoin

The Central African Republic is the second in the world to legalize bitcoin

The Central African Republic (CAR) has approved bitcoin as a means of payment along with the local franc. The relevant law was adopted by Parliament and signed by President Faustin-Archange Touadéra, writes AFP.

The document also involves the introduction of cryptocurrencies.

“The CAR was the first in Africa to take this step, which will put it among the most courageous and far-sighted countries in the world”– said the head of the presidential administration Obed Namsio.

The Central African Republic is one of the poorest countries on the black continent and the world as a whole. In terms of GDP per capita teaching staff the country ranks third from the end of the ranking with $1040 (World Bank data for 2020). Worse only Somalia and Burundi.

AT United Nations human development ranking The CAR is also an outsider – second from the bottom on the continent and 188 out of 193 in the world.

Read Also: Oman Include Real Estate Tokenization In Legal Framework For Virtual Assets

Recall that a recent study showed low bitcoin adoption rates in El Salvador.

Previously, the decision of the authorities of El Salvador has repeatedly criticized International Monetary Fund. In January, the establishment recommended deprive the first cryptocurrency of the status of legal tender.

In April 2022, the authorities of the Próspera economic zone in Honduras recognize bitcoin as legal tender.

Share this post

Leave a Reply

Your email address will not be published.