A Second Country Adopts Bitcoin As Legal Tender

The Central African Republic has reportedly become the second country to adopt Bitcoin BTC/USD as legal tender.

What Happened: The sub-Saharan nation’s National Assembly unanimously adopted a bill to adopt the apex coin as legal tender, according to a report from Forbes Monaco. 

The Minister Of Digital Economy, and Telecommunications, Gourna Zacko, and the Minister Of Finance and Budget, Calixte Nganongo submitted the draft law which establishes a framework for cryptocurrency regulation and for placing Bitcoin as an official currency in the Central African Republic, according to the report. 

See Also: How To Get Free Crypto

Why It Matters: In June 2021, El Salvador became the world’s first country to adopt Bitcoin as legal tender.

Samson Mow, former chief strategy officer of Blockstream, noted the Central African Republic’s Bitcoin adoption on Twitter and said it was “another domino.”

The Central African Republic adopts #Bitcoin as an official currency. Another domino. pic.twitter.com/ExEvIPfAym

— Samson Mow (@Excellion) April 24, 2022

Cryptocurrency trader Michaël van de Poppe noted that governmental Bitcoin adoption is “growing” after the African nation adopted Bitcoin. 

BREAKING:

Governmental adoption is growing even more, as #Bitcoin will become a legal tender in The Central African Republic.

Adoption is growing even more.

— Michaël van de Poppe (@CryptoMichNL) April 24, 2022

Last month, Malaysia’s Deputy Minister of Communications and Multimedia Zahidi Zainul said the country should consider recognizing Bitcoin and other cryptocurrencies as legal tender.

Price Action: Bitcoin traded 0.85% lower over 24 hours at  $38,106.65 at press time, according to data from Benzinga pro.

Read Next: Vietnam Takes Deep Dive In Crypto To Develop Legal Bitcoin Framework: Is It The Next El Salvador?