Browsing: countries that have legalized bitcoin

Central Africa Republic to launch Africa’s cryptocurrency investment hub www.theexchange.africa

Despite this, the “SANGO” cryptocurrency project, which will be released in the near future, is open to prospective investors, who can register on a waiting list on the official website.

In a statement released on Monday, Touadera stated that “a formal economy is no longer an option.” “We are being held hostage by a bureaucracy that is impossible to navigate, and as a result, we are unable to change to more competitive solutions.”

Gourna Zacko, who is the minister of digital economy and telecommunications, and Calixte Nganongo, who is the minister of finance, were the driving forces behind the passage of the Bitcoin bill in the National Assembly of the country, which was done with the intention of “economic recovery.”

The legal tender title of bitcoin in the country implies the acceptance of cryptocurrencies as a legal means of payment in any transaction through specific rules and regulations. This means that no vendor, trader or organisation can deny service payment through bitcoin as illegal.

This move comes after several countries in the continent have restricted trading in bitcoin, and most of them are lukewarm about the market.

The legalisation of bitcoin in the first African country will transform the country’s infrastructure and facilitate the blockchain technology and web3 applications to thrive. With legalising cryptocurrencies, the Central African Republic is moving towards a new path of technological development and economic performance. This dynamic field is popular among investors worldwide and ever-present as full-fledged assets in the portfolios of the world’s largest financial players such as Microsoft, Meta and Amazon.