Central Bank Caught Unaware as African Nation Endorses Bitcoin
- Central African Republic adopted Bitcoin as legal tender
- Opposition questions why a disconnected nation needs crypto
Photographer: Paul Yeung/Bloomberg
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The Central African Republic’s move to rush into making Bitcoin a legal tender caught a key stakeholder by surprise: the region’s monetary authority.
On Tuesday, the government announced the country would be the second to adopt Bitcoin as an official currency. The Bank of Central African States, which manages the Central African CFA franc, the regional currency used by six countries, hadn’t been informed, the spokesman for the bank said Friday, without elaborating.