The Central African Republic has adopted Bitcoin as its legal currency.
The Central African Republic has adopted bitcoin as a legal currency
The decision means the African nation is the second country in the world to adopt the cryptocurrency as its legal tender after El Salvador did so in September 2021.
Lawmakers of the Central African Republic unanimously approved the bill to legalise the use of cryptocurrencies in the African country alongside the CFA franc and it was later signed by President Faustin-Archange Touadera.
The president’s chief of staff, Obed Namsio, said in a statement posted on Touadera’s Facebook account that the Central African Republic "is the first country in Africa to adopt bitcoin as legal tender".
The statement added: "This move places the Central African Republic on the map of the world's boldest and most visionary countries."