Central African Republic adopted the cryptocurrency as legal currency

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The Central African Republic has recognized the world's largest and most popular cryptocurrency, bitcoin as its legal currency.

• It became the second country in the world and the first country in the continent of Africa to legalise bitcoin.

• In 2021, El Salvador became the first country in the world to legalise bitcoin.

• Now people there can pay tax in crypto currency through government recognized platforms.

• The Central African Republic is one of six countries in Africa that use the Central African CFA franc.

• The Central African CFA franc is a regional currency issued by the Bank of Central African States (BEAC).

• About Central African Republic -

• The Central African Republic is a landlocked country located in Central Africa.

• Despite being rich in diamonds, gold, oil, uranium, the Central African Republic is today counted among the poorest countries.

• It became independent from France in 1960.

• Capital- Bangui

• President- François Bozize

• Prime Minister- Faustin-Archange Touadera