Bitcoin becomes legal tender in yet another country

The Central African Republic, the second least developed country in the world according to the UN, adopted bitcoin as its official currency alongside the CFA franc and legalized the use of cryptocurrencies. The announcement was made this Wednesday (27) by the Presidency.

It is the first country in Africa to adopt bitcoin as a reference currency and the second in the world, after El Salvador did the same on September 7, 2021.

The National Assembly unanimously passed the law “governing cryptocurrency in the Central African Republic” and President Faustin Archange Touadéra enacted it, the Minister of State and Chief of Staff of the Presidency, Obed Namsio, said in a statement.

“This decision places the Central African Republic on the map of the most courageous and visionary countries in the world”, said the presidency of the country, the scene of a civil war for almost nine years.

In the Central American country, the idea began to circulate on June 5, when President Nayib Bukele announced the intention in a video sent to the Bitcoin 2021 conference, held in Florida, in the United States.

Only four days later, the project was approved by the Legislative Assembly with a ruling majority, and in three months it became part of the daily life of the population.

On the eve of taking effect, a survey by the Central American University showed that 65.2% of the population did not agree with the idea of ​​the government directing resources to implement the novelty. The Bukele government gave US$ 30 (R$ 155.10, at the exchange rate at the time) to anyone who downloaded Chivo, the country’s digital wallet.

Since then, El Salvador has faced protests against cryptocurrency adoption, but also defense from merchants. Bukele, who has already sacked the country’s Supreme Court justices and removed the attorney general from his post, holds the highest approval ratings for a president in Latin America.