Crypto News
| Published On Apr 28, 2022 8:46 am CEST | By Peter Siu

Central African Republic Becomes 2nd Nation in the World to Adopt Bitcoin as Legal Tender

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After rumors had been going on for a few days, the Central African Republic has confirmed to have become the second nation in the world to adopt Bitcoin (BTC) as legal tender. In September of last year, El Salvador was the first to embrace Bitcoin, under leadership of its ‘Bitcoin President’, Nayib Bukele.

In an official statement from President Faustin Archange Touadera’s office, the National Assembly passed the bill drafted by the minister of digital economy, Gourna Zacko, and the minister of finance and budget, Calixte Nganongo, after which the President gave his approval by putting down his signature.

The legislation made Bitcoin legal tender alongside the CFA franc and includes a legal and regulatory framework for cryptocurrencies.

As quoted by Bloomberg last week, Finance Minister Herve Ndoba said:

“There’s a common narrative that sub-Saharan African countries are often one step behind when it comes to adapting to new technology.

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This time, we can actually say that our country is one step ahead.”

The Central African Republic currently has a population of 4.83 million, of which a little over 10% have access to the internet.

Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.