⭐ Merited by NeuroticFish (2)
So it is finally acknowledged to be legal tender and not legalized currency or a means of payment, the news over the last few days has been all over the place.
Not so much their "own" currency more like the euro model but on top of that with a pegged currency, I don't know how this could have even worked, but looking at the economy of those countries, yeah it didn't.
Excuse my french but doesn't that thing make all cryptocurrencies legal tender? There is no bitcoin there it's just cryptocurrency as far as I'm reading.
They have their currency pegged to the Euro, their imports come from Europe mainly, and their exports to China and the EU, why would they even consider using the $ and not the Euro for example?
This is wonderful news, unless I am missing something: the first country having its own currency (CFA) and still adopting Bitcoin.
Not so much their "own" currency more like the euro model but on top of that with a pegged currency, I don't know how this could have even worked, but looking at the economy of those countries, yeah it didn't.
For visibility here is legislation in the text :
Excuse my french but doesn't that thing make all cryptocurrencies legal tender? There is no bitcoin there it's just cryptocurrency as far as I'm reading.
The CAR is also having the same condition where the country is dominated by the US dollar for trade off and buying/selling of stuff so you see they find an opportunity to free from the chains of USD through this bitcoin and providing people with decentralised control of their funds and ownership of funds to them.
They have their currency pegged to the Euro, their imports come from Europe mainly, and their exports to China and the EU, why would they even consider using the $ and not the Euro for example?