Central African Republic Adopts BTC as Legal Tender

The Central African Republic has adopted Bitcoin (BTC) as a legal tender becoming the second country in the world and the first in Africa to do so. According to a report from Forbes Monaco, The Minister Of Digital Economy, and Telecommunications, Gourna Zacko, and the Minister Of Finance and Budget, Calixte Nganongo jointly submitted the draft law which establishes a framework for crypto regulation and places Bitcoin as an official currency in the Central African Republic. “The application of the legal-tender implies the acceptance of cryptocurrencies as a legal means of payment established through specific legislation. With cryptocurrencies, the Central African Republic is moving towards a new, avant-garde path of development and economic performance, a dynamic field which is popular among investors around the world and ever-present as full-fledged assets in the portfolios of the world’s largest financial players,” the Forbes report stated. In June 2021, El Salvador became the first in the world to adopt Bitcoin (BTC) as a legal tender. Earlier last month, Malaysia’s Deputy Minister of Communications and Multimedia Zahidi Zainul said the country should consider recognizing Bitcoin (BTC) as legal tender.