The more the world comes to terms with the changing financial system, the cryptocurrency adoption we’re witnessing. Starting from El Salvador to the Central Africa Republic, more and more countries
Central African Republic and El Salvador have made Bitcoin legal tender and Panama has approved a bill to regulate crypto assets. Experts warn that nations that adopt crypto currencies risk instability.
The Central African Republic (CAR) passed a bill that formally adopts Bitcoin as legal tender. This means that cryptos may be recognized as means of payments.
The new crypto law has made provisions for offenders who break the laws. According to one report, offenders could be jailed for up to 20 years and fined between 100,000,000 to 1,000,000,000 Financial Community of Africa (CFA) francs.