The Central African Republic (CAR) previously declared Bitcoin as legal tender, but that is no longer the case. The decision was later reversed, and Bitcoin is no longer officially recognized as legal tender in the country.
CAR to drop crypto as legal tenderThe Central African Republic’s parliament has repealed legislation that gave bitcoin and other cryptocurrencies legal tender status. A new law amends an April 2022 statute that proved controversial among the CAR’s partners in the Economic and Monetary Community of Central Africa.
As of now, El Salvador remains the only country that has declared Bitcoin as legal tender. However, there’s a new development, due to pressure from the IMF, businesses in the country are no longer required to accept Bitcoin as payment. While it’s still legal tender, it’s no longer compulsory for businesses to accept it.