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Bitcoin has become the official currency of the Central African Republic

Author:
Anna Kholodnova
Date:

The Central African Republic (CAR) has recognized bitcoin as legal means of payment.

This was reported by the BBC.

The office of the President of the Central African Republic stressed that this step puts the Central Asian Republic "on the map of the most courageous and far-sighted countries in the world."

This is only the second country to take such a step. The first was El Salvador — it recognized bitcoin as legal means of payment in 2021. Many economists have criticized the decision, including the International Monetary Fund, which has said it increases the risk of financial instability.