The Central African Republic (CAR) has adopted Bitcoin as Legal Tender and become second country after EL Salvador where Bitcoin is fiat money. And as expected, CAR is facing opposition from Bank of Central African States (BEAC), just like El Salvador faced from IMF.
This development was happened on 22nd to 29th April 2022, as a landlocked poor country, it was supposed that CAR will fall under pressure and annul Bitcoin as currency, however CAR President Faustin Archange Touadéra showed his boldness just like Nayib Bukele.
The CAR will have to face more challenges, because Nayib Bukele was testing BTC in his constituency for years before making it legal tender; yet President Touadéra is ready to use natural resource to develop mining and take advantage of growing cryptocurrency market in other African countries.
This development was happened on 22nd to 29th April 2022, as a landlocked poor country, it was supposed that CAR will fall under pressure and annul Bitcoin as currency, however CAR President Faustin Archange Touadéra showed his boldness just like Nayib Bukele.
The CAR will have to face more challenges, because Nayib Bukele was testing BTC in his constituency for years before making it legal tender; yet President Touadéra is ready to use natural resource to develop mining and take advantage of growing cryptocurrency market in other African countries.