Crypto

Central African Republic Might Not Recognize Bitcoin

A poor African country recently decided to follow the example of El Salvador and become the second country in the world to officially recognize bitcoin as an official currency. The problem is that the Central African Republic shares a common currency, the CFA franc, with five other countries in the region. The central bank is headquartered in neighboring Cameroon, where politicians say the Central African Republic can’t easily introduce a new currency.

The government of Central Africa sees bitcoin as a way to put the country on the map. However, it is doubtful that many people will be able to use cryptocurrency because, according to the UN, the country is the second poorest country in the world. This is partly due to the civil war, which lasted almost nine years.

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