The Central African Republic has made Bitcoin, the world's most popular cryptocurrency, legal cash.
The country's President signed the proposal into law on Wednesday, according to the president's office. Lawmakers overwhelmingly opted to embrace Bitcoin alongside the country's native currency, the CFA franc. The bill also makes it permissible to utilise digital currencies and exempts bitcoin exchanges from paying taxes.
According to the presidency, the decision "places the Central African Republic on the map of the world's most daring and imaginative governments." The opposition, on the other hand, disagreed, claiming that the bill is intended to weaken the regional currency, which is backed by France and tethered to the euro. The Central African Republic, Cameroon, Chad, the Republic of Congo, and Gabon all use the CFA franc.
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