That's great to see another country taking one step ahead by legalising bitcoin in the country.There were some past rumours that Sub-Saharan African country will accept it or not but they have sorted out it soon by framing the legal framework for it and passing the bill and now are officially second country after El Salvador where bitcoin is legal tender.

This statement is quite attacking for those developed nations who think that these third world countries cannot compete with them and they can dominate them with fiat suppression but they are taking big and early moves for the country:



The CAR is also having the same condition where the country is dominated by the US dollar for trade off and buying/selling of stuff so you see they find an opportunity to free from the chains of USD through this bitcoin and providing people with decentralised control of their funds and ownership of funds to them.

But you see the IMF will again intervene in this matter and give out some lame reasons and stop their help if they don't take this back as we have already seen this drama because they can't lend any loans to these country incurring heavy debt on them and keeping them under their hand like puppets move.Like in El Salvador case they said this :


But you could also see the economic conditions of the country as around 618 CFA franc are equal to 1$ which is huge difference and they will never be able to grow under such circumstances but bitcoin could give them a little boost ending this domination.

There is also regulatory framework for the working of crypto assets in African Republic and you can check it out here

For visibility here is legislation in the text :

 

But you see the population is around 4.83 million and only 11% of them access to the internet and this must be challenging for the government to implement bitcoin system as even for LN channels you will need to have it and will sew forward how the people react to this decision as there were many protest in the El Salvador against this decision also.But you see there is always second option of fiat with you but bitcoin is best if you understand it.

Most of the population is living in poverty cricis and per capita income is way too low and the main problem is accessible internet and devices for bitcoin usage so you see it's challenging and hard situation there.But the government have taken bold step and will see forward how things went here.

Not untill i come across this official statement stating it adoption as a legal tender do i believe, well i congratulate the country toward this drastic decision amidst it current economic and political challenges and i want to believe that this will create a remarkable inference to to the country and Africa at large, but honestly this comes as a surprise because i never expected such from them and why is because its one of the salient countries in Africa when it comes to bitcoin and cryptocurrency at large and country like Nigeria having the highest adoption of users in Africa doesn't make a move in this manner, i see Central African Republic doing well and will for once regret their decision.

Central African Republic is not the biggest country in the world, but the news is still a big one. It did not take too long from when El Salvador took a similar step for the number to add up again, and now another country is welcoming Bitcoin to be a legal tender, now i would be curious to see how the citizens of this country responds to this official statement. I am sure Anti-Bitcoin governments would blast their decision like they did in El Salvador's case, only because they do not want the growth of Bitcoin to continue, though it would not change anything, that i am sure of. This are baby steps in terms of the kind of countries that are making Bitcoin a legal tender, but a mass adoption has to start from somewhere, and all of these could well be the spark leading up to Bitcoin mass adoption.
Is a legal tender not a 'legalized currency' and medium of payment.

It's so amazing! It's been really beautiful to watch this adoption and all the amazing news happen ''in the bear market''. And of all the reasons that make me extremely happy to read this news, I think the biggest one is that adoption starts with ''renegade countries''. The fact that it is the countries far from the TOP developed/GDP is something incredible that provides a unique opportunity for the insurgency. And in the end, it's the same story of Bitcoin adoption by populations of countries without big opportunities.

Wow, I must say I did not expect this move. There've been multiple countries discussed from time to time as potential adopters, but Central African Republic wasn't the one I've seen among them. It's a country with a solid multi-million population, and it's not an adoption in a special economic zone or by a particular region, which is very cool. And a unanimous decision by the lawmakers is a nice addition because it means crypto adoption is hardly debatable there because there's consensus on the matter. Perhaps this will motivate other countries in the region?

I was just starting to dig into this, as the Bitcoin Magazine article mentioned the document appeared on the President Touadera Facebook account.
Well, I went and checked.
https://www.facebook.com/profile.php?id=100075608221248
Maybe there are more accounts, but I didn't find anything on this one and the other I could find. And all look pretty different from what you would expect from a President of any Republic.

I found this on Twitter, but of course, I couldn't assess it's authenticity:


But Following the Previous post I found a reference for the website:

https://www.facebook.com/PresidenceCentrafriqueOfficiel/posts/305888361698320

On this Page I found the Bitcoin Lex I found in the Op.
But the Link on the official Government site links to another  Facebook Profile:
https://www.facebook.com/gouv.cf/

This Facebook is still updated, and we are updated on the fact that the First Minister is just back from an IMF visit to Washington.

Maybe, they are seeing positive impact on the economy of El Salvador or they are also testing the integration of bitcoin in their financial system. Anyway, they can always go back to where it was if they see no improvement or progress in their system. But if they will see some advancements, I guess more countries will adopt this initiative. The more of them, more demand in the market and so better for the price of bitcoin.

The Central African Republic becomes the first country in Africa to adopt bitcoin as its legal tender alongside its national currency, the CFA franc. Although CAR is one of the poorest countries in the world but they see bitcoin as a new opportunity to improve the economy of their nation. It is indeed a bold and visionary move because CAR took this decision without consulting the Bank of Central African States (BEAC), the regional bank that controls the currency of 6 Central African countries. Two of the country’s former prime ministers had expressed serious concern about the adoption of bitcoin as a legal tender without permission from BEAC. The government of CAR understands that most African banks are under Neo-colonialism and are manipulated by imperial powers led by the World Bank and IMF, hence, they decided to take this bold step without their approval. The spokesman of the BEAC confirmed that they heard of the new law on cryptocurrency in Central African Republic at the same time as the public. If CAR government had informed them, BEAC and IMF would have done everything possible to stop them.

This is a bold first step and I am sure that other obstacles such as low internet users, unstable power supply and high rate of illiteracy that might affect the implementation of this policy would be gradually defeated. I am also sure that other African countries would be able to see the economic independence and freedom that is inherent in the adoption of bitcoin and free themselves from the financial shackles and chains of their colonial masters.


https://punchng.com/central-african-republic-adopts-bitcoin-as-legal-currency/
https://www.aljazeera.com/economy/2022/4/27/bitcoin-is-now-official-currency-in-central-african-republic