The Central African Republic is one of the poorest and least developed countries in the world, despite its gold and diamond reserves.
The Central African Republic (CAR) has legalized the bitcoin cryptocurrency as a payment method equivalent to the Central African franc. Reuters reported this the other day.
It was noted that the Central African Republic became the first country in Africa and second in the world to legalize bitcoin.
“Despite its large gold and diamond reserves, the Central African Republic is one of the poorest and least developed countries in the world,” the statement said.
“The President supports this bill because it will improve living conditions for the citizens of Central Africa,” said Obed Namsio, Chief of Staff to the President of CAR, and called it “a decisive step to open up new opportunities for our country. “
As you know, in September 2021, El Salvador was the first in the world to decide on the legalization of cryptocurrency as a method of payment.
Later, the IMF criticized this decision by El Salvador, saying there were significant risks for the country’s financial stability.
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Source: korrespondent
