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The International Monetary Fund (IMF) believes that the Central African Republic’s (CAR) adoption of bitcoin as legal tender is fraught with problems for both the country and the
The International Monetary Fund (IMF) believes that the Central African Republic’s (CAR) adoption of bitcoin as legal tender is fraught with problems for both the country and the region. He writes about Bloomberg.
The IMF said that with the legalization of the first cryptocurrency in the CAR, there will be problems “in the area of law, economic policy and transparency.” The fund assists country authorities in their resolution.
Recall that the Central African Republic approved bitcoin as a means of payment along with its local franc. The law was passed by Parliament and signed by the country’s President, Faustin-Archange Touadéra.
Prior to that, in September 2021, Bitcoin was legalized in El Salvador. The IMF has repeatedly criticized this decision and called for it to be abandoned.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
