Central African Republic Adopts Bitcoin as Legal Tender
Central African Republic has adopted Bitcoin as legal currency, according to president’s office.Read MoreFeedzy
Confirming rumors that had been around for a few days, the Central African Republic has become the second nation in the world to adopt bitcoin as legal tender.
According to a statement from President Faustin Archange Touadera’s office, the National Assembly passed and he has signed a bill drafted by the minister of digital economy, Gourna Zacko, and the minister of finance and budget, Calixte Nganongo.
The legislation established a legal and regulatory framework for cryptocurrencies, and made Bitcoin (BTC) legal tender alongside the existing CFA franc.
“There’s a common narrative that sub-Saharan African countries are often one step behind when it comes to adapting to new technology,” Finance Minister Herve Ndoba said last week, as quoted in Bloomberg. “This time, we can actually say that our country is one step ahead.”
The Central African Republic has a population of 4.83 million, around 11% of which have access to the internet. Less than a year ago, El Salvador became the first country to adopt Bitcoin as legal tender.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Recent Posts
Bitcoin Pulls Back to $107K, but NYDIG Analysis Suggests Market Far From Overheated
Wednesday morning U.S. hours saw a modest acceleration in crypto's pullback from the recent big…
Bitcoin Hits New Heights: Analyst Predicts Next Peak By Late 2025
As Bitcoin (BTC) continues to capture investor enthusiasm, recently reaching a new all-time high of…
Crypto Daybook Americas: Bitcoin Dominance Tops 64% While Options Indicate Bullish Tilt
By James Van Straten (All times ET unless indicated otherwise) Since May 22, bitcoin (BTC)…
GameStop Purchases Over $500M Worth of Bitcoin
Video game retailer GameStop (GME) has purchased 4,710 bitcoin, worth nearly $513 million at the…
Ether Favored Over Bitcoin by Big Money, Here Are 3 Clues That Point to ETH Bias in Crypto Market
The futures and options market, a proxy for big money, is increasingly backing ether ETH…
Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock
US Treasury Secretary Scott Bessent has signalled that the long-debated overhaul of banks’ supplementary leverage…