Central African Republic adopts Bitcoin as Legal Tender

The Central African Republic has become the second nation in the world to adopt bitcoin as legal tender, after El-Salvador.

According to a statement from President Faustin Archange Touadera’s office, the National Assembly passed and he has signed a bill drafted by the minister of digital economy, Gourna Zacko, and the minister of finance and budget, Calixte Nganongo.

The legislation established a legal and regulatory framework for cryptocurrencies, and made Bitcoin (BTC) legal tender alongside the existing CFA franc.

“There’s a common narrative that sub-Saharan African countries are often one step behind when it comes to adapting to new technology,” Finance Minister Herve Ndoba said last week, as quoted in Bloomberg. “This time, we can actually say that our country is one step ahead.”

Less than a year ago, El Salvador became the first country to adopt Bitcoin as legal tender.

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