we know to be the first country in the world to officially accept Bitcoin as legal tender. This was followed by the President of El Salvador, Nayib Bukele, who announced that the government would start buying 1 BTC per day on November 16 2022, but can other small countries follow in El Salvador's footsteps and what are the country's challenges in this regard? This might be a very interesting discussion to see that so many people from small countries are interested in cryptocurrency, more specifically Bitcoin
After El Salvador became the first country to make Bitcoin a legal tender another small Africa country Central African Republic (CAR) also followed the same step. The president of the country President Faustin-Archange Touadera assented the law that made Bitcoin a legal tender after it was approved by the legislature.
Surprisingly the law was repelled after few months. The government never gave any reason for this action but suspect that the adoption policy was not well planned. Also the government were not also sincere because it was suspected that the government wanted to use the policy to help a country invade sanctions. But when they discovered that it will not go smoothly they had to repel the law. There was also a report that the government were pressurized by some international lending organization like the World Bank and IMF to repel the law.