The Central African Republic Legalizes Bitcoin – Media

The Parliament of the Central African Republic (CAR) passed a law that approved bitcoin as a means of payment on a par with the local franc. President Faustin-Archange Touadéra also approved the law.

According to AFP, the document also suggests the introduction of cryptocurrencies.

The Central African Republic is one of the poorest countries on the African continent and the world as a whole. In terms of Purchasing Power Parity, the country ranks third from the bottom of the ranking with $1,040 (World Bank data for 2020). Worse only Somalia and Burundi.

And in the UN Human Development Index, the Central African Republic ranks second from the bottom on the continent, and 188 out of 193 in the world.

According to a report from the Global Legal Research Administration (GLRD) of the US Law Library of Congress, 51 governments around the world imposed some of the restrictions on cryptocurrencies.

Post a Comment