A Second Country Adopts Bitcoin As Legal Tender

By April 24, 2022Bitcoin Business
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A Second Country Adopts Bitcoin As Legal Tender
Bitcoin - United States Dollar CRYPTO:$BTC - A Second Country Adopts Bitcoin As Legal Tender

The Central African Republic has reportedly become the second country to adopt Bitcoin (CRYPTO: BTC) as legal tender.

What Happened: The sub-Saharan nation’s National Assembly unanimously adopted a bill to adopt the apex coin as legal tender, according to a report from Forbes Monaco.

The Minister Of Digital Economy, and Telecommunications, Gourna Zacko, and the Minister Of Finance and Budget, Calixte Nganongo submitted the draft law which establishes a framework for cryptocurrency regulation and for placing Bitcoin as an official currency in the Central African Republic, according to the report.

Why It Matters: In June 2021, El Salvador became the world’s first country to adopt Bitcoin as legal tender.

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Samson Mow, former chief strategy officer of Blockstream, noted the Central African Republic’s Bitcoin adoption on Twitter and said it was “another domino.”

The Central African Republic adopts #Bitcoin as an official currency. Another domino. pic.twitter.com/ExEvIPfAym

— Samson Mow (@Excellion) April 24, 2022

Cryptocurrency trader Michaël van de Poppe noted that governmental Bitcoin adoption is “growing” after the African nation adopted Bitcoin.

BREAKING:

Governmental adoption is growing even more, as #Bitcoin will become a legal tender in The Central African Republic.

Adoption is growing even more.

— Michaël van de Poppe (@CryptoMichNL) April 24, 2022

Last month, Malaysia’s Deputy Minister of Communications and Multimedia Zahidi Zainul said the country should consider recognizing Bitcoin and other cryptocurrencies as legal tender.

Price Action: Bitcoin traded 0.85% lower over 24 hours at $38,106.65 at press time, according to data from Benzinga pro.

Read Next: Vietnam Takes Deep Dive In Crypto To Develop Legal Bitcoin Framework: Is It The Next El Salvador?

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