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Benzinga
Benzinga
Business
Akanksha Bakshi

Central African Republic Declares Bitcoin Legal Currency: Bloomberg

Bitcoin Central African Republic CAR Cryptocurrency El Salvador Internet
  • Bitcoin (CRYPTO: BTC) has been declared as an official currency by The Central African Republic, the second nation in the world to accept the cryptocurrency as legal tender, Bloomberg reports.
  • "Cryptomoney, including Bitcoin, is now considered an official currency in CAR," Albert Mokpeme, spokesman for President Faustin-Archange Touadera, stated. 
  • "By legalizing the use of Bitcoin, CAR hopes to attract investors," he continued, adding that its use will simplify money transfers, which can be "sometimes complicated in our country."
  • El Salvador, in September 2021, became the first nation to introduce Bitcoin as legal tender.
  • According to DataReportal, an online data platform, Internet penetration in the landlocked country is around 11% of the 5 million population.
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