Central African Republic becomes the world’s second country to legalize Bitcoin

Central African Republic has enshrined Bitcoin as a payment instrument on a par with the local franc. The corresponding law was passed by parliament and signed by President Faustin-Archange Touadéra, according to AFP.

The document also envisages the rollout of cryptocurrencies.

“The CAR is the first in Africa to take this step, which will place it among the boldest and most far-sighted countries in the world”, — said Obed Namsio, head of the president’s administration.

The CAR is one of the poorest countries on the Black Continent and in the world overall. By GDP per capita (PPP) the country sits third from the bottom of the rankings at $1,040 (данные Всемирного банка за 2020 год). Worse only Somalia and Burundi.

In the United Nations Development Programme’s Human Development Index ranking, the CAR is also an outlier — second from the bottom on the continent and 188th out of 193 in the world.

Earlier, a recent study показало low adoption rates of Bitcoin in El Salvador.

Earlier, the IMF repeatedly критиковал the decision to legalize Bitcoin in El Salvador. In January, the institution порекомендовано лишить первую криптовалюту статуса законного платежного средства.

In April 2022, the Próspera zone authorities in Honduras признали биткоин законным средством платежа.

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