The Central African Republic president’s office said Wednesday, 27th April, 2022, that the country has adopted bitcoin as legal tender, making it become the second country in the world to do so after El Salvador.

The Chief of Staff of Central African Republic, Obed Namsio, in a statement, said Lawmakers unanimously adopted a bill that made bitcoin legal tender alongside the CFA franc and legalised the use of cryptocurrencies, and President Faustin Archange Touadera signed the measure into law.

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”, Namsio said.

The landlocked state is one of the planet’s poorest and most troubled nations, with an economy that is heavily dependent on mining.

El Salvador became the world’s first bitcoin adopter on 7th September, 2022.

Citizens of the Central American country were allowed to use the digital currency along with the US dollar which has been the official currency for two decades to pay for any good or service, using a cyber wallet app.

Story: Asma’u Sani

CLICK NAIJA 2022

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