Central African Republic adopts bitcoin as official and legal tender

On 26 April 2022, the Central African Republic became only the second country after El Salvador to adopt Bitcoin as its official and legal tender.

On 26 April 2022, the Presidency of the Republic issued a press release (009 PR/DIRCAB 22) confirming the news that the National Assembly had unanimously adopted a law regulating crypto-currencies and making bitcoin the official currency of the Central African Republic. 

“The President of the Republic, Head of State, will support all the necessary efforts in accordance with the law to complete this process which places the Central African Republic on the map of the most courageous and visionary countries in the world for the acceptance of cryptocurrencies as a means of payment.” Obed Namsio – Minister of State, Director of Cabinet of the Presidency of the Republic.

The Central African Republic is the first country in Africa to do so and the second globally. El Salvador adopted bitcoin as its official currency in September 2021 (IMF). 

“In a progressive, forward-looking vision, our nation must be able to pursue its destiny and join the ranks of those who not only fully understand the importance of blockchain technology but are also rushing to legislate it. We are thinking first and foremost about how the lives of our citizens will change and how to create a stable and prosperous economy.” Obed Namsio – Minister of State, Director of Cabinet of the Presidency of the Republic.

For more information on the Central African Republic, contact one of our team members here for a free demo.

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