ANOTHER COUNTRY SECRETLY ADOPTS BITCOIN AS A LEGAL TENDER

When it comes to trading and investing in crypto, Africans are at the forefront of it and it has been a means for securing a good living without depending on the governments to do something. However, no African adopted it to be a legal tender despite the massive adoption and investment in it instead Nigeria even placed a ban on it and restricted financial institutions from dealing with it.

screenshot from Twitter

Shockingly, an African country has decided to break the bond by deciding to adopt Bitcoin as a legal tender anonymously in the country. The central African Republic after announcing its adoption of Bitcoin as a legal tender becomes the first African country to do so. According to reports, the move to adopt Bitcoin as a legal tender was because they believed it will help stabilize or recover the economy.

The minister of the Central African Republic has already submitted the bill to implement the process and also to make Bitcoin a legal tender or as an official currency and also the proposal that Calixte Nganongo, the Minister Of Finance and Budget, and Gourna Zacko, the minister of Digital Economy submitted also included a crypto regulatory framework.

This move by the Central African Republic will definitely benefit them and the economy because not only will it improve their digital infrastructure, it will also benefit the citizens when they start investing in cryptocurrencies freely without restrictions and with these, the economy will be on a whole new level.

According to chainanalysis, in 2021 some African countries were among the top 20 countries in the global crypto adoption index and among them were Tanzania, Nigeria, Ghana, Kenya, Togo, and South Africa. And also the surge was above 100% above the other countries in the world.

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