The Central African Republic (CAR) has become the first African country and the second country in the world to adopt Bitcoin as a legal tender.
According to reports, the Sub-Saharan country’s National Assembly unanimously adopted a bill to adopt cryptocurrency as a legal means of exchange in the country.
Speaking on the development, the Minister of Digital Economy, and Telecommunications, Gourna Zacko, and the Minister of Finance and Budget, Calixte Nganongo submitted the draft law which establishes a framework for cryptocurrency regulation and for placing Bitcoin as an official currency in the Central African Republic.
The move makes the CAR the second country in the world to adopt Bitcoin as a legal tender after El Salvador did the same in 2021.
The move expectedly will transform the CAR’s digital infrastructure by applying the blockchain technological innovation necessary for the project’s implementation.
