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.