Central African Republic, first in Africa to adopt Bitcoin as legal tender

BANJUI— The Central African Republic (CAR) became the first African country to adopt cryptocurrency Bitcoin as legal tender.

Globally, the country is the second country to do so after El Salvador.

President Faustin Archange Touadera signed a bill into law after it had been approved by Members of Parliament unanimously.

The move means CAR will use bitcoin as legal tender alongside the CFA franc.

An official in the presidency said the move placed the CAR on the map of the world’s boldest and most visionary countries.

The country is a landlocked state in central Africa, it is rated one of the world’s poorest, having suffered devastating conflict in recent years.

It was under French control till independence in 1960.