Post
Topic
Board Legal
Re: Central African Republic drops Bitcoin as Legal Tender
by
Fiatless
on 22/04/2023, 04:00:39 UTC

What do you think about the CAR dropping Bitcoin as a legal tender?

Apart from some infrastructural deficit and a high rate of illiteracy in the Central African Republic, there might be other factors that led to the dropping of Bitcoin as a legal tender. Poverty was one of the major challenges of that country. When citizens are focused on satisfying their essential needs and they don't even have savings, how will they embrace Bitcoin?

Another factor might be external influence. Some international banking and lending organisation like the BEAC and IMF may be mounting pressure on the government of CAR to reverse its policy on Bitcoin. President Faustin Archange Touadera is not as dogged as Nayib Bukele that withstood all the pressures.