Making Bitcoin Legal Tender In Africa: How CAR Can Find Financial Freedom
Bitcoin advocates have visited the Central African Republic and offered advice on how the country can best adopt BTC as legal tender.The Central African Republic (CAR) shocked the world when its president announced that the country had adopted bitcoin as legal currency.While some assumed that another nation would eventually follow the steps of El Salvador, which last year became the first country in the world to declare bitcoin a lawful currency, most didn’t expect this small African nation to be the one to follow suit.But several factors may make the CAR a logical destination for bitcoin....
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Last week, Ukraine legalized cryptocurrency in a near-unanimous vote. And it looks like the former Soviet bloc republic is taking things a step further by making Bitcoin legal tender. Legal tender refers to a lawfully recognized means of exchange to settle a debt or meet a financial obligation. In other words, if enacted, Bitcoin would […]
The International Monetary Fund (IMF) has warned of “a number of macroeconomic, financial and legal issues” surrounding El Salvador making bitcoin legal tender. “Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them,” an IMF spokesperson cautioned. IMF Sees Issues With Bitcoin Being Legal Tender in El Salvador The International Monetary Fund (IMF) raised a number of economic and legal concerns Thursday regarding El Salvador making bitcoin a legal tender, with equal footing with the U.S. dollar. With the....
The bill to make bitcoin legal tender in El Salvador has been approved by a supermajority in the Salvadoran Congress. “The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out,” the bill describes. Bill to Make Bitcoin Legal Tender Approved by Congress in El Salvador The bill to make bitcoin legal tender has passed Congress in El Salvador. President Nayib Bukele announced via Twitter early Wednesday morning: “The....
Young adults strongly support the idea of making bitcoin legal tender in the United States at 44%, while baby boomers think it’s a bad idea at 43%.
El Salvador had come on the radar of the financial world after it announced that it was making bitcoin a legal tender. The decision made the small North American country a favorite among crypto enthusiasts but not everyone has been happy with this move. One of those has been the IMF. In a recently released […]