• Home
  • News
    • Business
    • Tech News
  • Reviews
  • Buying Guides
  • Apps
  • How-to’s
  • Forums
  • More
    • About Us
    • Contact Us
    • Disclaimer
    • Privacy Policy
    • Our Authors

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Enter your email address:

Delivered by FeedBurner

What's Hot

Top 5 Best Translator Apps For iPhones Translate Swiftly

May 14, 2022

Learn Advanced SEO From Scratch,Complete SEO Training Course Free Course Coupon

May 9, 2022

AWS Certified SysOps Administrator – Associate Practice Exam Free Course Coupon

May 9, 2022
Facebook Twitter Instagram
  • News
  • Gadgets
  • Comparisons
  • Buying Guides
Facebook Twitter Instagram
MyGeeksGuide MyGeeksGuide
Subscribe
  • Home
  • News
    • Business
    • Tech News
  • Reviews
  • Buying Guides
  • Apps

    Top 5 Best Translator Apps For iPhones Translate Swiftly

    May 14, 2022

    Google data safety section will warn you of apps invading your privacy

    May 2, 2022

    Top 5 Best Android Apps to Sell Gift Cards in Nigeria

    April 12, 2022

    Top 5 Best Online Music Streaming Apps for Android and iOS – 2022

    March 22, 2022

    Top 12 Mobile Banking App you should know in Nigeria (Android & iOS)

    March 22, 2022
  • How-to’s
  • Forums
  • More
    • About Us
    • Contact Us
    • Disclaimer
    • Privacy Policy
    • Our Authors
MyGeeksGuide MyGeeksGuide
Home»News»Central African Republic makes Cryptocurrency a legal tender
News

Central African Republic makes Cryptocurrency a legal tender

Author MosesBy Author MosesApril 29, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

The Central African Republic has established legislation that recognizes cryptocurrencies as legal tender and a means of trade. The office of President Faustin Archange Touadera made the announcement on Wednesday. While this isn’t the first country to make such a decision, El Salvador, which was the first to do so, is still grappling with it.

Bitcoin
Bitcoin

Is legalizing cryptocurrencies a risk or a means to economic stability?

Is the Central African Republic (CAR) taking a chance, or are there safeguards in place to keep the economy afloat? A country’s economy cannot rely only on bitcoin as legal cash due to its volatility. The President of the Central African Republic stated that this move makes his country one of the world’s most daring countries, not only in Africa. Is boldness, though, all that is required?

To boost their economy and keep track of transactions conducted within their borders, many governments have imposed bans or limitations on cryptocurrency. Cryptocurrency is the currency of the future at the present; it is the pinnacle of digitization. However, it looks to be too volatile at the time to be used to support a country’s economy.

Furthermore, because of its decentralized nature, government authorities are on high alert since it poses a threat to economic security.

The IMF, for example, has opposed the use of Bitcoin as legal cash, although more than a handful of CAR legislators voted in favor of the bill. Additionally, the president’s office stated that this was a major step toward opening up new potential for the country by ensuring that bitcoin will be accepted as legal cash alongside the regional CFA franc.

ALSO READ:  Access Bank to pay shareholders ₦35 billion total dividend
Bitcoin Central Africa Republic Cryptocurrency
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Author Moses
  • Website
  • Facebook
  • Twitter
  • LinkedIn

Authormoses is the CEO and Chief Editor of MyGeeksGuide. We serve you with Reliable Information around the Technology World. (Tech & Gadgets Enthusiast) Follow Us on Social Media.

Related Posts

Regional Security and Safeguarding Advisor at CBM International | Apply Now

May 9, 2022

International Girls in ICT Day 2022 | Microsoft ADC West Africa inspires schoolgirls & female tech enthusiasts

May 6, 2022

Telegram Premium App Features, Price: What you Know so far

May 2, 2022
Add A Comment

Leave A Reply Cancel Reply

Free & Paid Courses
Free & Paid Courses

Learn Advanced SEO From Scratch,Complete SEO Training Course Free Course Coupon

By Author MosesMay 9, 20220

This Advanced SEO training course contains 9+ hours of very In-depth Video walk-through modules with proven…

AWS Certified SysOps Administrator – Associate Practice Exam Free Course Coupon

May 9, 2022

JavaScript & jQuery – Certification Course for Beginners Free Course Coupon

May 6, 2022

HTML, JavaScript, & Bootstrap – Certification Course Free Course Coupon

May 6, 2022
Latest Opportunities
News

Regional Security and Safeguarding Advisor at CBM International | Apply Now

By Author MosesMay 9, 20220

Job Field Security / Intelligence Job Type Full-Time Education BA/BSc/HND Location Abuja FCT Experience 5…

Viju Industries Recruitment 2022 – Jobs Application Portal

May 4, 2022

Call for Code Global Challenge for Developers – 2022 | Apply Now

May 3, 2022

Google is Hiring Engineers For First Product Development Centre In Africa (Job Opportunity)

April 20, 2022
Latest Posts

Top 5 Best Translator Apps For iPhones Translate Swiftly

May 14, 2022

Learn Advanced SEO From Scratch,Complete SEO Training Course Free Course Coupon

May 9, 2022

AWS Certified SysOps Administrator – Associate Practice Exam Free Course Coupon

May 9, 2022

Regional Security and Safeguarding Advisor at CBM International | Apply Now

May 9, 2022
Top Reviews
8.8

Honor Magic 4 – Reviews: Specifications And Price In Nigeria

By Author Moses
8.8

Xiaomi 12 Pro Review: Specifications And Price In Nigeria

By Author Moses
8.4

Top 10 Smartphone Under Range of ₦60,000 and ₦50,000 Naira in Nigeria

By Author Moses
MyGeeksGuide
Facebook Twitter YouTube Telegram
  • Home
  • About Us
  • Contact Us
  • DMCA
  • Sitemap
  • Disclaimer
  • Privacy Policy
© 2022 - MyGeeksGuide | All Right Reserved

Type above and press Enter to search. Press Esc to cancel.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT