The regulators of the Central African Republic (CAR) may follow El Salvador’s policy of accepting BTC as a legal tender. Recently, the country has legalized the use of cryptos in the financial markets.
Justin Gourna Zacko, the Minister of Digital Economy, Post and Telecommunications introduced the bill on April 21. According to Forbes, the parliament approved it unanimously despite the opposition’s protest.
The purpose of the law is to build a regulated ground for the growth of the crypto industry in the area. Minister Zacko mentioned the difficulties in sending money from the country. He added that crypto adoption would answer the issue.
The law says that traders and businesses can make crypto payments with the possibility to pay tax payments in crypto via authorized entities.