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