The Central African Republic has made Bitcoin a legal currency
The Central African Republic has become the second state in the world to officially recognize digital currency as a means of payment. Now, together with the CFA franc BEAC, local residents can use Bitcoin to pay for goods and services.
On this page
The appropriate legislative framework was developed by Ministers of Digital Economy Gourna Zacko and Ministers of Finance and Budget Calixte Nganongo. It was adopted by the National Assembly and signed by the president Faustin-Archange Touadéra.
As finance minister Herve Ndoba said, Sub-Saharan African countries often have to fight against stereotypes about economic and technological underdevelopment. However, this time the country has demonstrated to the whole world that it is in step with innovative technologies. Regarding the use of cryptocurrencies at the state level, only El Salvador was ahead of the Central African Republic: the country recognized Bitcoin as the official currency in September 2021.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
