Gadgets Africa
  • News
    Microsoft introduces ads to Bing AI chatbot

    Microsoft introduces ads to Bing AI chatbot

    Executives at Meta Platforms Inc are discussing a company-wide ban on political advertising in Europe.

    Meta considers ban on political ads

    Twitter unveils prices for API access

    Twitter unveils prices for API access

    Microsoft raises Bing AI chat limit to 200 daily

    Microsoft raises Bing AI chat limit to 200 daily

    Instagram introduces bookmarking feature

    Instagram introduces bookmarking feature

    Hackers target UAE users with Spanish spyware - Google

    Hackers target UAE users with Spanish spyware – Google

    EFCC detains tech firm Kloud Commerce's founder Olumide Olusanya

    EFCC detains tech firm Kloud Commerce’s founder Olumide Olusanya

    Google to launch extreme heat alerts feature

    Google to launch extreme heat alerts feature

    Musk, experts call for pause on AI development

    Musk, experts call for pause on AI development

  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders
Gadgets Africa
No Result
View All Result

Central African Republic adopts bitcoin as legal currency

by Agency Report
April 27, 2022
in Cryptocurrency
Reading Time: 1 min read
Sanctions may cripple Russia’s multibillion-dollar crypto industry – Experts
Share on FacebookShare on TwitterShare on Telegram

The Central African Republic has adopted bitcoin as legal tender, the president’s office said on  Wednesday, becoming the second country in the world to do so behind El Salvador.

Lawmakers unanimously adopted a bill that made bitcoin legal tender alongside the CFA franc and legalised the use of cryptocurrencies, and President Faustin Archange Touadera signed the measure into law, his chief of staff Obed Namsio said in a statement.

The CAR “is the first country in Africa to adopt bitcoin as legal tender,” Namsio said.

“This move places the Central African Republic on the map of the world’s boldest and most visionary countries,” he declared.

The landlocked state is one of the planet’s poorest and most troubled nations, with an economy that is heavily dependent on mining.

El Salvador became the world’s first bitcoin adopter on September 7.

Under it, citizens of the central American country were allowed to use the digital currency — along with the US dollar which has been the official currency for two decades — to pay for any good or service, using a cyber wallet app.

The introduction was heavily criticised by the International Monetary Fund.

It warned of “large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection” and with issuing bitcoin-backed bonds.

AFP

Tags: Central African Republic
ADVERTISEMENT

Related Posts

US judge rules on FTX founder's bail conditions Friday
Cryptocurrency

US judge rules on FTX founder’s bail conditions Friday

by Joy Onuorah
March 10, 2023
Crypto shares slump after Silvergate crash
Cryptocurrency

Crypto shares slump after Silvergate crash

by Joy Onuorah
March 9, 2023
Crypto shares slump after Silvergate crash
Cryptocurrency

Illicit crypto transactions hit $20b in 2022

by Joy Onuorah
January 22, 2023
FTX's Bankman-Fried faces new indictment of bribing Chinese officials
Cryptocurrency

I didn’t steal FTX funds – Bankman-Fried

by Joy Onuorah
January 12, 2023
Next Post
Nigeria ousts kenya atop Africa’s crypto adoption rank

Nigeria records $760m crypto trade in 2021 – Paxful

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

Grammys add best video game score, other new categories

Grammys add best video game score, other new categories

June 9, 2022
African banks’ handling of fintech firms worries investors

Fintech set to introduce new payment solutions

April 4, 2022

Trending.

Elon Musk sets $8 monthly charge for verified Twitter accounts

Twitter takes Musk’s influence to uncharted territory – Report

October 30, 2022
Musk, Twitter legal battle still on - Judge

No Twitter deal without clarity on spam accounts, says Elon Musk

May 17, 2022
Spotify to lay off staff this week

Spotify to lay off staff this week

January 23, 2023

Startup launches insurance product

March 22, 2022
Active mobile subscribers hit 209m - NCC

FG, telcos to meet over 40% tariff hike

May 10, 2022
Gadgets Africa

© 2023 Gadgets Africa.

Navigate Site

  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

Share

No Result
View All Result
  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

© 2023 Gadgets Africa.

Go to mobile version