Central African Republic adopts bitcoin as legal tender

has adopted bitcoin as an official currency, the presidency said, becoming the first country in Africa and only the second in the world to do so.

A bill governing the use of cryptocurrency was adopted unanimously by parliament last week, said a statement signed by Obed Namsio, chief of staff of President Faustin-Archange Touadera.“The president supports this bill because it will improve the conditions of Central African citizens,” Namsio said in an interview, without elaborating.

Central African Republic is one of six nations that use the Central African CFA franc, a regional currency governed by the Bank of Central African States . “The BEAC learnt at the same time as the public of the enactment of a new law on cryptocurrency in Central African Republic,” a BEAC spokesman said, adding that the bank did not have an official response yet.El Salvador became the first country in the world to adopt bitcoin as legal tender last year, but the roll-out was hampered by scepticism and it postponed a proposed bitcoin bond in March amid global market turmoil.

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