Central African Republic Adopts Bitcoin As Legal Tender
Key Points:
Crypto transactions are banned by most of Africa’s central banks
South Africa taxes and regulates crypto
The Central African Republic will be the first country in Africa (2nd in the world) to officially adopt Bitcoin
Some African countries have been attempting adoption of a Central Bank Digital Currency (CBDC)
Nigeria went live with eNaira in 2021
El Salvador was the first country to officially adopt Bitcoin in late 2021. While many other countries in Africa are also considering the transition, the Central African Republic (CAR) is the first nation of the continent to do so.
