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Central African Republic Launches Legal Framework For Economic Use Of Bitcoin | Bitcoin Magazinebitcoinmagazine.com/markets/central-african-republic-launches-legal-framework-for-economic-use-of-bitcoin
60 sats \ 6 comments \ @KenyaCoin 27 Apr 2022 bitcoin
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10 sats \ 0 replies \ @mrldotsh 27 Apr 2022
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0 sats \ 0 replies \ @KenyaCoin OP 27 Apr 2022
The Bloomberg article referenced in the Bitcoin Magazine article:
Cryptocurrency Regulator Proposed by Central African Republic https://www.bloomberg.com/news/articles/2022-04-26/cryptocurrency-regulator-proposed-by-central-african-republic https://archive.ph/ds4iK <-- An archive, which can be easier to read
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0 sats \ 3 replies \ @KenyaCoin OP 27 Apr 2022
The Central African Republic has launched the creation of a legal framework that will allow the use of cryptocurrencies like bitcoin to be openly used within the economy,
“There’s a common narrative that sub-Saharan African countries are often one step behind when it comes to adapting to new technology,” Ndoba said. “This time, we can actually say that our country is one step ahead.”
The Central African Republic will likely pursue internet infrastructure development as well [because] the internet penetration of the Central African Republic is reportedly around only 11.4% of the population.
This statistic represents a little over 557,000 internet users and a total population of 4.87 million.
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21 sats \ 0 replies \ @KenyaCoin OP 27 Apr 2022
The Central Africa Republic (CAR) is bordered by:
  • Chad, Cameroon, and Republic of the Congo - Brazzaville, which use the Central African CFA franc ($XAF)
  • DR Congo - Kinshasa, which uses the Congolese franc ($CDF)
  • Sudan, which uses the Sudanese Pound ($SDG)
  • South Sudan, which uses the South Sudanese Pound ($SSP)
https://ichef.bbci.co.uk/news/976/cpsprodpb/AA46/production/_105309534_africa_cfa_franc_map_640-nc.png
[Larger image] [Source]
So presumably then this will give reason for the foreign currency exchange bureaus in each of these bordering countries to support bitcoin as a currency they offer to exchange.
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0 sats \ 1 reply \ @KenyaCoin OP 27 Apr 2022
There is another recent post, here on SN, with more information:
Apparently, the Central African Republic news is true. If these documents are real, the country adopted bitcoin as its official currency. #23279
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0 sats \ 0 replies \ @KenyaCoin OP 27 Apr 2022
Here's another post, here on SN, with content from the BBC:
🎧 Focus on Africa - CAR adopts Bitcoin as legal tender | BBC Sounds #23443 https://www.bbc.co.uk/sounds/play/p0c3jtzk https://www.bbc.com/news/world-africa-61248809
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