Central African Republic votes to adopt Bitcoin as an official currency

The Central African Republic has adopted Bitcoin as a legal currency, becoming only the second country to do so after El Salvador.

Lawmakers from the central African country unanimously adopted a bill to make Bitcoin legal tender alongside its CFA franc and legalised the use of cryptocurrencies.

President Faustin Archange Touadera signed the measure into law, his chief of staff Obed Namsio said in a statement.

The CAR "is the first country in Africa to adopt Bitcoin as legal tender," Namsio said.

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"This move places the Central African Republic on the map of the world's boldest and most visionary countries," he added.


The new legislation covers the use of cryptocurrencies and those who use them, in online trade, "smart contracts... by blockchain technology" and "all electronic transactions".











 

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