Central African Republic adopts Bitcoin as legal tender
The Central African Republic has adopted Bitcoin as legal tender, the president's office said Wednesday.
In the Central African Republic lawmakers adopted a bill that made Bitcoin legal tender alongside the CFA franc. Furthermore they legalised the use of cryptocurrencies.
President Faustin Archange Touadera signed the measure into law, his chief of staff Obed Namsio said in a statement.
The CAR "is the first country in Africa to adopt Bitcoin as legal tender", Namsio said.
"This move places the Central African Republic on the map of the world's boldest and most visionary countries", he stated.
The Central African Republic becomes the second country to adopt Bitcoin as its legal currency, behind El Salvador.
The introduction was heavily criticised by the International Monetary Fund (IMF).
