Dear Readers,
After the country of El Salvador became the first nation in the world to adopt Bitcoin as legal tender last year, expectations were high that another country would quickly follow suit. In fact, over the following few weeks, legislators in a number of Central and South American countries went on to introduce pro-Bitcoin legislation and add laser eyes to their profile pictures on social media. Even the state of Arizona in the U.S. tried to make Bitcoin legal tender. Each of those efforts failed to launch and the question of who would be the next government to adopt Bitcoin has remained an open one for months.
That question has now been answered: The Central African Republic announced last week that its parliament had unanimously approved a resolution to recognize Bitcoin as legal tender alongside the CFA franc, previously the only legal tender in the country. While the details on how and when Bitcoin’s status as legal tender will be made official are pending, one fact is abundantly clear: The Central African Republic has taken a giant leap forward in terms of its own sovereignty.
