After announcing that Bitcoin is already legal tender in his nation, the President of the Central African Republic expressed his support for the currency.
The news about Bitcoin becoming legal tender in the Central Africa Republic got confirmed by the government. The Central African Republic (CAR) is now the second nation, after El Salvador, to transform into Bitcoin legal tender. The president’s office reaffirmed the information after approving the legislation regulating digital assets days before, which had different media interpretations.
Likewise, President Faustin-Archange Touadéra himself went to Twitter yesterday to reinforce his support for Bitcoin and consolidate his stance on the mother cryptocurrency, comparing it, in its universal scope, with mathematics.
The president’s tweet, with more than 7,600 “likes” so far, had responses of all kinds, from those who saw him as a crazy president to those who asked him for more backup so that the asset’s price goes back to high peaks.
Likewise, the president expressed his excitement at the number of positive responses to his announcement yesterday about the adoption of Bitcoin.
As can be seen, it is an official statement from the office of President Faustin Archange Touadera that gives the information. The statement highlights that the National Assembly approved and signed a policy issued by the Minister of Digital Economy, Gourna Zacko, and the Minister of Finance and Budget, Calixte Nganongo.
The statement also adds that this legislation sets up a legal and regulatory framework for digital assets. And it explicitly says that Bitcoin (BTC) got set to be legal tender alongside the Central African franc, CFA, the country’s fiat currency.
Several Twitter users shared the official press release, written in French and signed by the cabinet director, Obed Namsio, who described the decision as historic.
According to Namsio, the Central African Republic is the first nation in Africa to transform Bitcoin into legal tender. This movement positions the Central African Republic on the map of the most visionary and improved nations in the world; the representative made these statements according to a report by Le Monde.
However, access to technology in the African nation is still a privilege for a few. The Central African Republic, without access to seaports and with a situation of extreme poverty affecting its region, has a population of 4.83 million citizens, of which only about 11% have access to the Internet.
The world still has to see what international organizations think about the initiative, such as the International Monetary Fund and the World Bank, both against the adoption of BTC in El Salvador.
By: Jenson Nuñez
