Central African Republic Adopts Bitcoin As Legal Tender
Central African Republic , Adopts Bitcoin As Legal Tender.<br />CNBC reports that the <br />country has become <br />the second in the <br />world to do so.<br />El Salvador was the first country to adopt <br />bitcoin as legal tender last year.<br />CNBC reports that the Central African Republic's parliament unanimously voted to legalize bitcoin and other cryptocurrencies.<br />Obed Namsio, chief of staff to <br />President Faustin-Archange Touadera, .<br />said the move is "a decisive step toward opening up new opportunities for our country.".<br />According to the World Bank, the <br />Central African Republic is one of the poorest <br />and least-developed countries on the planet. .<br />While the move to adopt bitcoin in the country has been praised by many, the cryptocurrency remains volatile and is often seen as controversial. .<br />Some experts even fear Russia may attempt to evade sanctions by using cryptocurrencies.<br />CNBC reports that the Central African Republic <br />is a close ally of Russia.<br />CNBC reports that the Central African Republic <br />is a close ally of Russia.<br />Still, others see cryptocurrency as a way for small countries to reduce their dependence on the <br />American dollar when it comes to global trade.<br />The U.S. dollar has also been the global oil currency for over 70 years. .<br />Oil dependence is a major issue now, because of the Ukraine and the SWIFT banking ban, so global, unstoppable cryptocurrencies like bitcoin can really shine, Ransu Salovaara, CEO of crypto platform Likvidi, via CNBC