Central African Republic Adopts Bitcoin

Published on April 28, 2022
Current Context: The Central African Republic has adopted Bitcoin as a legal tender.
Central African Republic Adopts Bitcoin
  • Bitcoin (Cryptocurrency) is a decentralized currency with peer-to-peer networking running on a decentralized ledger. It does not have any regulator (central bank). The transaction is recorded in a ledger which is automatically maintained using the algorithm of the blockchain.
  • The central African Republic becomes the 2nd country after El-Salvador to adopt Bitcoin as the legal currency. The Central African Republic has an economy that is largely dependent upon tourism.
  • The World sees Bitcoin through the lens of suspicion because no regulator is present. The Indian Government has levied a 30 % tax on such transactions. A digital currency will be rolled out by 2023, in India.


Q.1 Which country has recently adopted Bitcoin as the legal currency?
a. Slovakia
b. Chad
c. Guinea
d. Central African Republic

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