Skip to main content

The Parliament of Central African Republic has Passed a Bill Adopting Bitcoin as a Legal Tender.

By Editor


 BANGUI, April 27 (Reuters) - Central African Republic has adopted bitcoin as an official currency, the presidency said on Wednesday, becoming the first country in Africa and only the second in the world to do so.


Despite rich reserves of gold and diamonds, Central African Republic is one of the world's poorest and least-developed countries and has been gripped by rebel violence for years.


A bill governing the use of cryptocurrency was adopted unanimously by parliament last week, said a statement signed by Obed Namsio, chief of staff of President Faustin-Archange Touadera.

"The president supports this bill because it will improve the conditions of Central African citizens," Namsio told Reuters, without elaborating.


In the statement, he called it "a decisive step toward opening up new opportunities for our country".


Central African Republic is one of six nations that use the Central African CFA franc, a regional currency governed by the Bank of Central African States (BEAC).



Two of the country's former prime ministers last week signed a letter expressing concern about the adoption of bitcoin without guidance from the BEAC, calling it a "serious offence".


"The BEAC learned at the same time as the public of the enactment of a new law on cryptocurrency in Central African Republic," a BEAC spokesman told Reuters, adding that the bank did not have an official response yet.


El Salvador became the first country in the world to adopt bitcoin as legal tender last year, but the rollout was hampered by scepticism and it postponed a proposed bitcoin bond in March amid global market turmoil. read more



African governments have taken a varied approach to regulating cryptocurrencies and blockchain technology.


Nigeria's central bank barred local banks from working with cryptocurrencies last year before launching its own digital currency, the eNaira.


South African regulators have been exploring the potential regulation of cryptocurrencies and other blockchain technology, and Tanzania's central bank said last year it was working on a presidential directive to prepare for cryptocurrencies.

Comments

Post a Comment

Popular posts from this blog

UGANDA ELECTORAL COMMISSION TO ELIMINATE NATIONAL IDENTIFICATION CARDS (IDs) FOR 2021 GENERAL ELECTIONS.

By Editor
The elimination of using National IDs (Ndagamuntu) for the 2021 elections should not have come as a surprise. One would be very NAIVE to think that Bobi Wine has not prepared for this in his Business Plan under the RISK section. It is public knowledge that our EC is not independent.  It is also public knowledge that Military Dictator Yoweri Museveni will never lose an election. What stunned us this morning is when we noticed that on social media, people were mocking Bobi with his "get your Ndagamuntu".  We are on record for saying to all Our readers that the National ID is like Apartheid in South Africa. Students of History would know how those IDs were being used to arrest people, deny them jobs, deny them basic services. Consequently, Bobi was not wrong and will never be wrong on the Ndagamuntu. Except the ones attacking him and mocking him forget that in Uganda, now, no National ID (Ndagamuntu), no service.  If you have not been denied registering your child i...
Post a Comment
Read more

Here is Why Our Utterances For Praying Jesus And God To Come Liberate Ugandans, May Be Misplaced. This Phrase is like inform of a Letter To Some Categorized Section Of Ugandans.

By Editor
https://m.facebook.com/yusufosuta/photos/a.1896701010557789/2070383359856219/?type=3 OPEN LETTER TO NRM SUPPORTERS - NATIONAL ROBBERS MOVEMENT. .................................................................................. Last week of March, a friend told me to pray for Uganda.  I told him that he was an Idiot and we have prayed for too long and we are still hungry and sick and Jesus is not coming soon to liberate us. He then ignored the STUPID and sent me a picture we all now know.  It got me totally messed up.  This guy was telling me to pray then sends a picture of men bowing down in blood.  He might have meant guns but I blocked him because his utterances of praying for Uganda were misplaced. I unblocked him 3 weeks later and asked him about praying and assassinations.  His reply "eithrr prayers or guns or both". I hate violence with a passion.  So he is now blocked in like FOREVER. Do you feel safe?  Do not feel safe. Uganda regim...
Post a Comment
Read more

The Full List of Permanent Secretaries Appointed by President Museveni.

By Editor
By virtue of the Powers given to the President by Article 174 (2) of the 1995 Constitution of the Republic of Uganda, I hereby, appoint the following as Permanent Secretaries as indicated below: 1. Head of Public Service and Secretary to Cabinet- Lucy Nakyobe 2. Deputy Head of Public Service And Secretary to Cabinet - Deborah Katuramu 3. State House Comptroller - Jane Barekye 4. Principal Private Secretary to the President- Dr. Kenneth Omona 5. Principal Private Secretary to H.E. the Vice President - Alex Kakooza 6.  Office of the Prime Minister - Keith Muhakanizi 7.  Office of the President - Yunus Kakande 8.  Ministry of Agriculture, Animal - Industry and Fisheries David Kyomukama Kasura (Maj. Gen.) 9.  Ministry of Defence and Veteran Affairs- Rosette Byengoma 10. Ministry of Education and Sports -       Kate Lamaro  11. Ministry of Energy and Mineral Development -   Batebe Irene  12. Ministry of Foreign Affairs - Vincent Bag...
Post a Comment
Read more