{"id":234259,"date":"2022-04-25T19:00:43","date_gmt":"2022-04-25T18:00:43","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=234259"},"modified":"2022-04-25T17:06:11","modified_gmt":"2022-04-25T16:06:11","slug":"central-african-republic-adopts-bitcoin-as-legal-tender","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/central-african-republic-adopts-bitcoin-as-legal-tender\/","title":{"rendered":"Central African Republic adopts Bitcoin as legal tender"},"content":{"rendered":"<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Central African Republic has officially become the second country to adopt <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> (BTC) as legal tender.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">According to reports from <\/span><a href=\"https:\/\/forbes.mc\/article\/first-african-country-adopt-bitcoin-legal-currency-central-african-republic\"><span style=\"font-weight: 400;\">Forbes Monaco,<\/span><\/a><span style=\"font-weight: 400;\"> the National Assembly unanimously passed the bill to make cryptocurrency a national currency as part of efforts to improve the economy and security of the country.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u00a0<\/span><a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\"><span style=\"font-weight: 400;\">Binance<\/span><\/a> CEO<span style=\"font-weight: 400;\">\u00a0<\/span><a href=\"https:\/\/cryptoslate.com\/people\/changpeng-zhao\/\"><span style=\"font-weight: 400;\">Changpeng Zhao<\/span><\/a><span style=\"font-weight: 400;\"> also confirmed the development, which means that businesses in the country can now accept the flagship digital asset for payments.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Central African Republic adopts <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&ref_src=twsrc%5Etfw\">#bitcoin<\/a>.<\/p>\n<p>&mdash; CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1518296144450887680?ref_src=twsrc%5Etfw\">April 24, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The bill was sponsored by Minister of finance and budget Calixte Nganongo and Minister of digital economy, post services, and telecommunications Gourna Zacko.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Beyond recognizing BTC as legal tender, it also provides a regulatory framework for crypto in the country \u2014 <\/span>another first on the African continent.<\/p>\n<h2><b>Bitcoin\u2019s volatility is not a barrier<\/b><\/h2>\n<p style=\"font-weight: 400;\"><a href=\"https:\/\/journaltime.org\/finance\/cryptocurrency\/bitcoin\/the-central-african-republic-did-not-adopt-bitcoin-but-it-did-regulate-it\/\"><span style=\"font-weight: 400;\">According<\/span><\/a><span style=\"font-weight: 400;\"> to Zacko, investing in digital assets could benefit millions of users despite crypto's volatility. He said:<\/span><\/p>\n<blockquote><p>There are so many advantages in cryptocurrencies, of which I cannot mention all of them here, but first we would have to have the legal frameworks to allow any Central African to also benefit from this possibility of transferring money and receiving money.<\/p><\/blockquote>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Zacko added that:<\/span><\/p>\n<blockquote><p>New, avant-garde path of development and economic performance, a dynamic field which is popular among investors around the world and ever-present as full-fledged assets in the portfolios of the world\u2019s largest financial players.<\/p><\/blockquote>\n<h2><b>Opposition was initially against the bill<\/b><\/h2>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The unanimous legislative decision to support the bill came after initial opposition by some of the parties in parliament.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">According to the government,\u00a0 parliamentary groups Mouvement National des Ind\u00e9pendants (MOUNI) and Mouvement C\u0153urs Unis (MCU) eventually understood that adopting Bitcoin was in the country\u2019s best interest.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Notably, the Central African country is one of the poorest countries in the world, with a population of about 5 million. The country's <\/span><a href=\"https:\/\/cryptoslate.com\/bitcoin-is-now-legal-tender-in-el-salvador\/\"><span style=\"font-weight: 400;\">situation<\/span><\/a><span style=\"font-weight: 400;\"> is almost identical to that of El Salvador, where citizens are dependent on remittances from abroad.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">As of press time, Bitcoin was trading for $39,220, down 1.4% in the last\u00a0 24 hours.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central African Republic has officially become the second country to adopt Bitcoin (BTC) as legal tender. According to reports from Forbes Monaco, the National Assembly unanimously passed the bill to make cryptocurrency a national currency as part of efforts to improve the economy and security of the country. \u00a0Binance CEO\u00a0Changpeng Zhao also confirmed the [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":234370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[77669,77465],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Central African Republic adopts Bitcoin as legal tender<\/title>\n<meta name=\"description\" content=\"A Forbes report has revealed that the Central African Republic has passed a bill that allows it to adopt Bitcoin as a legal tender.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/central-african-republic-adopts-bitcoin-as-legal-tender\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central African Republic adopts Bitcoin as legal tender\" \/>\n<meta property=\"og:description\" content=\"A Forbes report has revealed that the Central African Republic has passed a bill that allows it to adopt Bitcoin as a legal tender.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/central-african-republic-adopts-bitcoin-as-legal-tender\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-25T18:00:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-25T16:06:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/04\/image_2022-04-25_202721795.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/central-african-republic-adopts-bitcoin-as-legal-tender\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/central-african-republic-adopts-bitcoin-as-legal-tender\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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