CAR was the first in Africa to legalize bitcoin as a means of payment

The bill was unanimously adopted by the National Assembly

25.04.2022 - 09:05

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What’s new? The National Assembly of the Central African Republic (CAR) has adopted the bill on the recognition of bitcoin as a legal means of payment. According to the authorities, this decision will help restore the country’s economy, Forbes reports.

News on the Forbes website

What else is known about the bill? The initiative to recognize bitcoin as an official currency was authored by the minister of the digital economy, post services and telecommunications, Gourna Zacko, and the minister of finance and budget, Calixte Nganongo. The bill aims to completely transform the country’s digital infrastructure through blockchain innovations. The idea was also supported by the representatives of the opposition, who were initially critical of the issues of bitcoin legalization.

What had happened before? The number of crypto users in Africa grew by 2500% in one year, and cross-border transfers became the most popular method of dealing with cryptocurrencies. Such data is provided in a report of the KuCoin crypto exchange.

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