Central African Republic joins El Savador in making Bitcoin legal tender

The Central African Republic has become the second country globally to adopt Bitcoin as an official currency following El Salvador’s introduction last year.

Lawmakers in the CAR’s parliament voted on a unanimous basis to pass a bill legalising Bitcoin and cryptocurrency.

According to CNBC, Bitcoin will be considered legal tender alongside the regional Central African CFA franc.

The publication noted, however, that the move could be viewed as controversial. There were previously protests in El Salvador after the country introduced its Bitcoin Law. The IMF has called on El Salvador to drop Bitcoin as a legal tender, flagging concerns over the risks it poses to financial stability and consumer protection.

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