Regional Central Bank Slams Central African Republic for Adopting Bitcoin
- The Central African Republic announced Bitcoin as legal tender
- Central bank said decision disregards regional currency accord
Photographer: Angel Garcia/Bloomberg
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The Central African Republic adopted Bitcoin in disregard of a decades-old agreement on a common currency with five of its neighbors, a regional monetary authority said.
The CAR’s announcement of the cryptocurrency as legal tender last month was made without consulting the Bank of Central African States. It goes against a “fundamental rule” that all six states of the Central African Monetary Union should use the CFA franc, Governor Abbas Mahamat Tolli said in a letter dated April 29 and seen by Bloomberg.