The landlocked nation of the Central African Republic has become one of only two countries to adopt the cryptocurrency Bitcoin as legal tender, joining El Salvador in pioneering recognized use.
The former French colony of the CAR only gained its independence late in the 1960s and has been wracked by an ongoing civil war since 2012.
Early reports indicated that the proposed bill to legalize and regulate bitcoin as legal tender has passed unanimously in a vote by lawmakers and confirmed by the Presidency yesterday, bringing Bitcoin alongside the West African Franc as recognized tender.
The combination of lack of accessibility and discussion with BEAC before the adoption do not bring high hopes for widespread use of Bitcoin within the country.
Since the election of President Touadera, CAR has reportedly become increasingly close to Russia, its preferred ally in fighting the ongoing insurgency since 2017.