The Central African Republic is the second country in the world to recognize cryptocurrency as the official currency.
Trivandrum, First Published Apr 28, 2022, 4:21 PM IST
The Central African Republic declares Bitcoin as their official currency. The Central African Republic is the second country in the world to recognize cryptocurrency as the official currency. “Bitcoin will no longer be the official currency of the country. It is hoped that by legalizing the use of bitcoin, investors will be able to attract investors.
Despite its rich reserves of gold and diamonds, the Central African Republic is one of the poorest in the world. The country is following in the footsteps of El Salvador Salvador in Central America, the first country in the world to recognize the digital currency Bitcoin as its official currency.
Obed Namcio, chief of staff of President Faustin-Archange Toudera, said last week that parliament had unanimously approved a bill restricting the use of cryptocurrency. The president supports the bill because it will improve the situation of Central African citizens, “said Nancy.
Last Updated Apr 28, 2022, 4:21 PM IST
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