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Bitcoin mining computer: In the Central African Republic, payment with the cryptocurrency should be possible
Photo: Reuters Staff / REUTERS
Paying with Bitcoin will be possible in the future in the Central African Republic: The cryptocurrency should therefore be accepted as a legal means of payment.
President Faustin Archange Touadéra signed a corresponding law, as announced by his chief of staff Obed Namsio.
Parliament had previously passed the corresponding law unanimously.
Bitcoin is a digital currency that is not controlled by a central bank, but is created in a decentralized computer process.
The currency is considered an object of speculation and is subject to strong exchange rate fluctuations.
IMF fears for consumers' financial integrity
After El Salvador, the Central African Republic is the second country in the world to accept Bitcoin as a means of payment.
The Central American country had already introduced Bitcoin as a means of payment in September 2021.
The International Monetary Fund (IMF) had criticized this as a dangerous step for "financial stability, financial integrity and consumer protection".
"This measure places Central African Republic among the most courageous and visionary countries in the world," Namsio said.
The country has been in a civil war for almost nine years and was last placed second to bottom on the United Nations Human Development Index.
The country's sole currency, the CFA franc, is accepted not only in the Central African Republic but also in Equatorial Guinea, Gabon, Cameroon, the Republic of the Congo and Chad.
ani/AFP
