{"id":183396,"date":"2022-04-27T16:06:17","date_gmt":"2022-04-27T15:06:17","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=183396"},"modified":"2022-04-27T16:08:41","modified_gmt":"2022-04-27T15:08:41","slug":"central-african-republic-adopts-bitcoin-as-legal-tender","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/04\/27\/central-african-republic-adopts-bitcoin-as-legal-tender\/","title":{"rendered":"Central African Republic adopts Bitcoin as legal tender"},"content":{"rendered":"<p>The Central African Republic (CAN) has adopted Bitcoin as legal tender, making it the first country in Africa to do so and the second globally after El-Salvador.<\/p>\n<p>This was contained in a statement released on Wednesday by Obed Namsio, chief of staff to<span data-preserver-spaces=\"true\"> President Faustin Archange Touadera.<\/span><\/p>\n<p>Namsio\u00a0<span data-preserver-spaces=\"true\">confirmed that the president had signed a bill into law to make Bitcoin a legal tender alongside the CFA franc.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Namsio said lawmakers had unanimously passed the bill, which would make the <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/01\/08\/jimoh-ibrahim-dissociates-self-from-fake-cryptocurrency-link\/\">cryptocurrency<\/a> legal tender in the country.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Calixte Nganongo, minister of finance and budget, and Gourna Zacko, minister of digital economy, postal services, and telecommunications, initiated and introduced the legislation establishing the legal framework for cryptocurrency regulation in Central African Republic, as well as Bitcoin as an official currency.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThis move places the Central African Republic on the map of the world\u2019s boldest and most visionary countries,\u201d Namsio said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last week, Herve Ndoba, finance minister, told\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-26\/cryptocurrency-regulator-proposed-by-central-african-republic\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a><span data-preserver-spaces=\"true\">\u00a0that there\u2019s a common narrative that sub-Saharan African countries are often one step behind when it comes to adapting to new technology.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThis time, we can actually say that our country is one step ahead,\u201d Ndoba was quoted as saying.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.worldbank.org\/en\/country\/centralafricanrepublic\" target=\"_blank\" rel=\"noopener\">the World Bank<\/a><span data-preserver-spaces=\"true\">, the Central African Republic is a sparsely populated country of 5.4 million inhabitants. It is one of the poorest and most fragile countries despite its natural resources.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While some countries have expressed a favourable stance towards cryptocurrency usage and trading in their economies,\u00a0<\/span>others have <a class=\"editor-rtfLink\" href=\"https:\/\/www.thecable.ng\/china-morocco-iran-here-are-seven-countries-that-have-banned-crypto-trading\/amp\" target=\"_blank\" rel=\"noopener\">banned or restricted<\/a><span data-preserver-spaces=\"true\">\u00a0their use.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In Nigeria, the Central Bank of Nigeria (CBN) had consistently warned over trading in crypto and\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.thecable.ng\/just-in-cbn-directs-banks-to-close-accounts-of-cryptocurrency-traders\/amp\" target=\"_blank\" rel=\"noopener\">issued <\/a>a directive to banks to close accounts<span data-preserver-spaces=\"true\">\u00a0of persons or entities involved in cryptocurrency transactions.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central African Republic (CAN) has adopted Bitcoin as legal tender, making it the first country in Africa to do so and the second globally after El-Salvador. This was contained in a statement released on Wednesday by Obed Namsio, chief of staff to President Faustin Archange Touadera. Namsio\u00a0confirmed that the president had signed a bill [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":35484,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[38],"tags":[36314,1001,11688,36315],"class_list":["post-183396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","tag-central-republic-africa","tag-cryptocurrency","tag-digital-economy","tag-obed-namsio"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Central African Republic adopts Bitcoin as legal tender<\/title>\n<meta name=\"description\" content=\"The Central African Republic (CAN) has adopted 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