Skip to content

Central African Republic officially adopts Bitcoin as legal tender

Central African Republic officially adopts Bitcoin as legal tender

The Central African Republic (CAR) has officially adopted Bitcoin as legal tender, according to the president’s office, making it the world’s second nation to do so after El Salvador.

President Faustin Archange Touadera signed a bill into law that makes Bitcoin legal tender alongside the CFA franc and legalized the usage of cryptocurrencies, according to his chief of staff, Obed Namsio in a statement, according to a tweet by AFP on April 27.

The CAR “is the first country in Africa to adopt bitcoin as legal tender. This move places the Central African Republic on the map of the world’s boldest and most visionary countries,” he declared.

The official press release was later shared by Oliver Koblížek.

It’s worth mentioning that Finbold reported on April 25 that the Central African Republic passed a bill regulating cryptocurrencies but had yet to adopt Bitcoin.

The second country in the world to do adopt BTC

Notably, on September 7, El Salvador became the world’s first country to accept bitcoin. 

Citizens of the Central American nation were permitted to use the digital currency, as well as the US dollar, which has served as the country’s official currency for more than two decades, to pay for any item or service via the use of the ‘Chivo’ wallet application. 

The International Monetary Fund (IMF) expressed strong opposition to the adoption.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

Related posts