The Central African Republic (CAR) has approved Bitcoin as a means of payment on a par with the local franc. The corresponding law was adopted by the Parliament and signed by the country’s President Faustin-Archange Touadera, AFP has reported.
The document also involves the introduction of cryptocurrencies.
Obed Namsio, chief of staff of the President, has said:
“The CAR was the first in Africa to take this step, which will put it among the most courageous and far-sighted countries in the world.”
The Central African Republic is one of the poorest countries on the black continent and the world as a whole. In terms of GDP per capita at PPP, the country ranks third from the bottom of the ranking with $1,040.
In the UN Human Development Index, the Central African Republic is also an outsider: the second from the end on the continent and 188 out of 193 in the world.
