According to reports, the Central African Republic is the second adoption country Bitcoin (CRYPTO: BTC) as legal tender.
What happened: According to a report by Forbes Monaco, the sub-Saharan nation’s National Assembly unanimously passed a bill to make the top coin legal tender.
The Minister for Digital Economy and Telecommunications, Gourna Zackoand the Minister of Finance and Budget, Calixte Nganongo has introduced the draft law that will create a framework for regulating cryptocurrency and for introducing bitcoin as the official currency in Central African Republic, according to the report.
See also: How to get free crypto
Why it matters: In June 2021, El Salvador became the first country in the world to adopt Bitcoin as legal tender.
Samson Mowformer Chief Strategy Officer of Blockstream, noted CAR’s adoption of Bitcoin on Twitter, saying it was “another domino”.
The Central African Republic takes over #Bitcoin as official currency. Another domino. pic.twitter.com/ExEvIPfAym
— Samson Mow (@Excellion) April 24, 2022
Cryptocurrency trader Michaël van de Poppe noted that government bitcoin adoption is “increasing” after the African nation adopted bitcoin.
BREAK:
Government acceptance is growing even more since #Bitcoin becomes legal tender in the Central African Republic.
Adoption continues to increase.
— Michaël van de Poppe (@CryptoMichNL) April 24, 2022
Malaysian Deputy Minister of Communications and Multimedia last month Zahidi Zainul said the country should consider accepting bitcoin and other cryptocurrencies as legal tender.
Price promotion: Bitcoin is trading down 0.85% over 24 hours at $38,106.65 at press time, according to data from Benzinga Pro.
Continue reading: Vietnam Dive Deep into Crypto to Develop Legal Bitcoin Framework: Is It the Next El Salvador?
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