The Central African Republic has made Bitcoin a legal currency

The Central African Republic has become the second state in the world to officially recognize digital currency as a means of payment. Now, together with the CFA franc BEAC, local residents can use Bitcoin to pay for goods and services.

The appropriate legislative framework was developed by Ministers of Digital Economy Gourna Zacko and Ministers of Finance and Budget Calixte Nganongo. It was adopted by the National Assembly and signed by the president Faustin-Archange Touadéra. As finance minister Herve Ndoba said, Sub-Saharan African countries often have to fight against stereotypes about economic and technological underdevelopment. However, this time the country has demonstrated to the whole world that it is in step with innovative technologies. Regarding the use of cryptocurrencies at the state level, only El Salvador was ahead of the Central African Republic: the country recognized Bitcoin as the official currency in September 2021.