The Central African Republic recently made Bitcoin its legal tender.
An entrepreneur from Bangui, the country’s capital city, stated that the country has more pressing needs than the recent government’s decision, which is not even favorable to the economy.
In reaction to the CAR’s decision to make Bitcoin a legal tender, IMF stated that it raises serious transparency, legal, and economic policy challenges.
The CAR government, while explaining the reason behind the decision, stated that it hopes to use cryptocurrencies to boost its ailing $2.3 billion economies.
Some El Salvadorian citizens have also taken to the streets in protest against the new law.