• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Tuesday, September 26, 2023
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

Central African Republic announces Bitcoin as legal tender

News
by Kurt Ebenzer
27 April 2022
Central African Republic announces Bitcoin as legal tender

Source: Unsplash

Share on FacebookShare on Twitter

The Central African Republic is now confirmed to become one of the only regions to adopt Bitcoin as its official currency, a statement released from the country’s President Faustin Archange Touadera’s office revealed Wednesday.

Touadera signed the bill after it was passed by the National Assembly on April 25. The crypto-friendly bill was drafted by the minister of the digital economy, post services, and telecommunications, Gourna Zacko, and the minister of finance and budget, Calixte Nganongo.

Rumors of the Central African Republic first came to light on Monday after a Forbes report revealed the same. However, at the time, the report remained unconfirmed until today.

With the adoption of crypto-friendly practices, the new law will introduce regulations to monitor the nascent industry and make Bitcoin the country’s legal tender. In a recent interview with Bloomberg, Finance Minister Herve Ndoba was quoted as saying:

“There’s a common narrative that sub-Saharan African countries are often one step behind when it comes to adapting to new technology. This time, we can actually say that our country is one step ahead.”

Latin American country El Salvador became the world’s first country to adopt Bitcoin as its legal tender in September last year. Later in March, the City of Lugano, the ninth-largest city in Switzerland, also announced Bitcoin, Tether, and its own token, LVGA as “de facto” legal tenders of the city.

Meanwhile, the IMF has so far opposed El Salvador’s move, asking the country multiple times to revoke Bitcoin’s status as its legal tender. Illicit financing, consumer protection risks, and risks to financial stability are some of the reasons cited by the international organization.

Tags: featured
Previous Post

Brazil passes first crypto bill, to create regulatory framework

Next Post

Castello Coin: a Token That Connects the Digital and Traditional Art World

Kurt Ebenzer

Kurt Ebenzer

Kurt is an experienced writer with vast experience in documentation and interpretive math. His path to crypto journalism starts with Ourbitcoinnews and he hopes to shine new light in the noisy crypto media space.

Related Posts

Dogecoin soars 10% ── Expected to be adopted by “X” | CoinDesk JAPAN | Coin Desk Japan

Dogecoin soars 10% ── Expected to be adopted by “X” | CoinDesk JAPAN | Coin Desk Japan

by Damien Martin
25 July 2023

Dogecoin (DOGE) rose for a second straight day on speculation that the memecoin will play a bigger role in the...

“Bitcoin / Web3 is necessary in the world” Hiroyuki × Yuzo Kano WebX special dialogue decision

Hiroyuki x Yuzo Kano Special Talk Report “Does Bitcoin/Web3 Need in the World?” | WebX Conference

by Kurt Ebenzer
25 July 2023

Focus on building emerging technologies Web3 and Bitcoin are said to be one of the hottest topics in the world,...

U.S. SEC Chairman Requests 10 Billion Yen Budget Increase, Including Support for Virtual Currency

US District Court Announces Date in Coinbase v. SEC Case

by Kurt Ebenzer
25 July 2023

Provide due dates for petitions and legal advice letters U.S. District Judge Catherine Polka Faira announced the upcoming schedule for...

No Result
View All Result

Recent Posts

  • Dogecoin soars 10% ── Expected to be adopted by “X” | CoinDesk JAPAN | Coin Desk Japan
  • Hiroyuki x Yuzo Kano Special Talk Report “Does Bitcoin/Web3 Need in the World?” | WebX Conference
  • US District Court Announces Date in Coinbase v. SEC Case
  • U.S. Ripple’s CTO highly evaluates the potential of real asset tokenization | WebX Conference
  • HashPort Group concludes basic agreement with KDDI to consider comprehensive collaboration in 3 Web areas | CoinDesk JAPAN | Coin Desk Japan
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News