Home Breaking News Bitcoin adopted as legal tender in Central African Republic

Bitcoin adopted as legal tender in Central African Republic

The Central African Republic (CAR) has adopted bitcoin as a legal currency, the presidency announced on Wednesday.

CAR becomes the first African nation and the second in the world to officially embrace bitcoin.

The government said citizens can use it in regular commerce and also to pay taxes.

Lawmakers approved a bill legalizing the use of cryptocurrencies, making bitcoin and the CFA franc legal tender.

President Faustin Archange Touadera has signed it into law, according to Chief of Staff Obed Namsio.

This move places the Central African Republic on the map of the world’s boldest and most visionary countries”, Namsio said in a statement.

In 2021, El Salvador became the first country to declare bitcoin a legal currency.

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