The Central African Republic has become the second country in the world to legalize Bitcoin, the world’s most valuable currency, and the first country in Africa.
That was with the approval of the President of the country for the Bitcoin Legalization Bill which was prepared by the legislators of that country.
Commenting on this, Obed Namsio, Chief of Staff to President Faustin-Archange Touadera, said that a bill regulating the use of cryptocurrency had been passed unanimously by Parliament last week and had been approved by the President.
With this, Bitcoin will become the official currency of the Central African Republic, used for official transactions with the Central African CFA Franc.
Despite being rich in gold and diamond reserves, the Central African Republic is one of the poorest and least developed countries in the world and has endured years of insurgent violence.