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Bitcoin Adoption by Central African Republic a Concern, IMF Says

  • IMF staff working with authorities to address challenges
  • Nation’s government adopted Bitcoin as legal tender last week
Bloomberg business news
Payments with Bitcoin

The Central African Republic’s adoption of Bitcoin as legal tender presents a series of challenges for the country and the region, the International Monetary Fund said.

The government announced last week that the nation, one of the world’s poorest, would become the second to adopt the cryptocurrency after El Salvador. The decision drew criticism from opposition parties and was made without consulting the regional central bank, which manages a common currency used by six countries including the Central African Republic.