second country with Bitcoin Like Legal tender currency? Quietly, because we were among the few who did not respond to the incoming news Forbes Montecarlo I also circulated before big shots From the world of coding.
There was a reason: di Legal currency It is not and what has passed is in fact more than one normalization subordinate Cryptocurrency exchange (And not just in Bitcoin). Good news for the industry? Yes of course, but we are far from what has been done El Salvador.
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What really happened in the Central African Republic?
There was already a draft in the first approval, which was passed unanimously, which aims to provide framework It is clear where it can be used often Bitcoinhow much, at least according to the text that started its circulation, other cryptocurrencies, focusing on the first.
An interesting situation for the republic, given that we are facing a country that is not only extremely poor, but owes a lot to the remittances of immigrants. The situation in this sense is similar to El Salvadorgiven that the Bitcoin Cash Network will still offer a cheaper and more secure system for those who have to receive funds from abroad.
All in a country where Without bank accounts, that is, those who do not have access to basic services. Thus, the solution that would be ideal for the citizens of the country, but still different from Legal currencywhich may result in the obligation European and other European To accept Bitcoin or crypto in payment.
The CFA case and the consequences of such a move
The complex equation of the African country also includes CFAor the sincere from African Financial Communitywhich for many is a symbol of the extended control of Paris on him former colonies.
there Central African RepublicWith CameroonAnd ChadAnd Gabon in general 14 countries from sub-Saharan Africa using this currency, and switching to another standard, though likely desirable, would create some kind of friction over geopolitics.
We also take into account the fact that it acts as the central bank of the country BEACor the Central African State Bank, with little potential for individual countries to directly change or manage monetary policy. Something that would make a file Central African Republicalbeit in a broad sense, similar to the dollarization economy El Salvador. It is a topic that was also taken up by politicians who supported the law in question.
What is actually in the law (and why we can talk about fake news)
Let’s talk about fake news Also in regards to what many have said important names from cryptosphere Because it’s not about Legal currency (again) or if you put it in Italian Legal currency.
The script is certainly suggestive, but it’s far from what one would like to represent. And no, it’s not just about Bitcoin.