According to news on April 25, the National Assembly of the Central African Republic has unanimously passed a bill to be the first country in Africa to adopt Bitcoin as a payment currency. It is reported that the bill, initiated and submitted by Gourna Zacko, Minister of the Digital Economy, Postal Services and Telecommunications, and Calixte Nganongo, Minister of Finance and Budget, both established the legal framework for cryptocurrency regulation and made Bitcoin an official currency of the country.
The central African Republic is an African developing country. It was a French colony before the middle of the 20th century. It has a land area of 623,000 square kilometers and a population of 4.83 million (2020). It borders the Republic of Congo and the Democratic Republic of Congo. Its capital is Bangui, and the current president, Faustin-Archange Touadéra, was elected in February 2016 and re-elected in January 2021.
The Central African Republic has large deposits of minerals and natural resources, such as uranium reserves, crude oil, gold, diamonds, cobalt, timber, hydropower, and large amounts of arable land, and It is still one of the ten poorest countries in the world. As of 2017, the per capita GDP of the Central African Republic was the lowest in the world. In 2019, the Human Development Index of Central Africa was the second-lowest in the world, only higher than that of Niger.
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