The Central African Republic Bets Big On Bitcoin
A group of Bitcoiners traveled to the Central African Republic to meet with the country’s president and discuss pathways for bitcoin adoption.The people of the Central African Republic (CAR) are on a mission to be the first country in Africa to enable widespread bitcoin adoption. They are the second country in the world (after El Salvador) to officially adopt bitcoin as legal tender for use in regular commerce and for paying taxes.In April 2022, President Faustin-Archange Touadéra signed into law a bill (which passed unanimously) making bitcoin and the CFA franc the legal currency of the....
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The Central African Republic (CAR) has mentioned plans of setting up a crypto hub recently. This news comes after Central African Republic legally recognized Bitcoin last month. This move of launching a “crypto hub” is in a view to attract global enthusiasts. After a lot of compliments and supposed criticisms, the local government is all […]
After adopting bitcoin as legal tender, the Central African Republic now wants to create a cryptocurrency economic zone – Sango.
Following the confusion that surrounded initial reports, a senior staffer in the Central African Republic (CAR)’s presidency has now confirmed that bitcoin will become the country’s reference currency. First Country in Africa to Officially Adopt Bitcoin A press statement supposedly issued by the office of the Presidency of the Central African Republic (CAR) appeared to confirm reports by multiple media outlets suggesting that the bill passed by the National Assembly not only proposes to govern cryptocurrencies but recognizes bitcoin as a reference currency. In a statement....
Central African Republic (CAR) president Faustin-Archange Touadera announced recently that cryptocurrencies are an alternative to cash. Bitcoiners, however, insist the top cryptocurrency is the only solution to the CAR’s money problems. Formal Economy Not an Option Central African Republic president Faustin-Archange Touadera has said cryptocurrencies are an alternative to fiat cash. Touadera also claimed that “the formal economy is no longer an option” for the CAR. According to a Zawya report, Touadera’s latest pro-crypto remarks were made just as his country....
A new report has claimed the Central African Republic, which became the first country in Africa to make bitcoin legal tender, recently requested the regional central bank’s assistance in developing a cryptocurrency regulatory framework. The report also said the CAR had expressed its “commitment to the single currency and respect for the statutes of the Bank of Central African States.”
Developing a Crypto Regulatory Framework
After initially clashing with the Central African Republic (CAR) over its decision to make bitcoin legal tender, the Bank of Central....