
Central African Republic Accepts Bitcoin as Crypto Market Crashes
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The Central African Republic has become the latest country to pass a law to accept Bitcoin as legal tender.
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The National Assembly unanimously passed a bill that would make the flagship cryptocurrency legal for payments and other transactions in the country.
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Despite the news that the Central African Republic accepts Bitcoin now, the crypto market has failed to bounce back from its decline, with BTC even crashing below $39,000.
The Central African Republic has become the second country to adopt Bitcoin as a legal tender. This follows a similar decision that was made by El Salvador last year.
The announcement was first contained in a report that was released by Forbes Monaco on Monday morning. The report states that the National Assembly of the sub-Saharan nation unanimously voted in favor of the Apex coin as legal tender.

The legalization of the flagship cryptocurrency has been in the works for some months before this official decision became public. The Minister of Digital Economy, and Telecommunications, Gourna Zacko submitted the draft law for the regulation of Bitcoin. The bill to make BTC an official currency was also supported by the Minister of Finance and Budget, Calixte Nganongo, according to the report.
Read also: Ukraine Bans Crypto Buying in Local Currency
As the Central African Republic accepts Bitcoin as legal tender, it means that the cryptocurrency will be recognized as a form of payment.
In addition to this, Malaysia is currently plotting its adoption of the apex cryptocurrency. The country’s Minister of Communications and Multimedia, Zahidi Zainul proposed the adoption of Bitcoin and other crypto-assets as legal tender last week. Meanwhile, Bitcoin and other digital assets remain banned in Nigeria.
At the time of this report, the leading cryptocurrency is down by 3% in the market after crashing to $38,547.
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