- The law allows all transactions related to cryptocurrencies in the Central African Republic, without restriction and can be ‘’carried out by natural or legal persons, public or private,” in “online trading activities”, “all electronic transactions” or even “tax contributions”.
An official statement from the Presidency, on April 27th, announced that the Central African Republic has adopted bit coin as its official currency along with the CFA franc and has also legalised the use of crypto currencies.
The law “governing crypto currency in the Central African Republic” was introduced in the National Assembly and was voted unanimously. The law allows all transactions related to crypto currencies in the Central African Republic, without restriction and can be ‘’carried out by natural or legal persons, public or private,” in “online trading activities”, “all electronic transactions” or even “tax contributions”. The law also mentions that “exchanges in crypto currencies are not subject to tax”.
Though law was passed, according to the presidency, there has been reports that some members of the opposition plan to take the issue to the constitutional court, according to Martin Ziguélé, a former prime minister and now an opposition MP.
CAR has been receiving Russian support to repel the rebel offensive. According to political analysts, the announcement indicates ways to circumvent international financial sanctions on Russia that invite caution.
On 7 September 2021, El Salvador became the first country to adopt bitcoin as a legal tender. The decision was denounced by the International Monetary Fund (IMF) as a threat for “financial stability, financial integrity and consumer protection”.
https://trendsnafrica.com/central-african-republics-prime-minister-sacked/
