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On 22 April 2022 parliament of the Central African Republic voted for the cryptocurrency law which was promulgated on 27 April officially making Bitcoin a legal tender in the country. [23] In April 2023, the CAR agreed to repeal the adoption of Bitcoin as legal tender. [24]
In April 2022, the Central African Republic (CAR) adopted Bitcoin as legal tender alongside the CFA franc. After El Salvador, CAR was the second country to do so. [25] [26] In April 2023, CAR agreed to repeal the adoption of Bitcoin as legal tender. [27]
El Salvador became the first country in the world to use bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. [1] It has been promoted by Nayib Bukele, the president of El Salvador, who claimed that it would improve the economy by making banking easier for Salvadorans, and that it would encourage foreign investment.
In 2021, El Salvador became the first country to adopt Bitcoin as legal tender, mandating that businesses accept the leading cryptocurrency as a form of payment and rolling out a digital wallet ...
Bukele implemented a plan to adopt Bitcoin as legal tender in the country, with the idea that citizens would use crypto, rather than fiat currency, as a form of payment.
El Salvador has adopted bitcoin as legal tender, the first country in the world to do so. The bill says all shops, individuals, and businesses are obliged to accept Bitcoin. President Nayib Bukele ...
According to Ernst & Young, the adoption of bitcoin as legal tender by El Salvador could have consequences for US taxpayers holding the cryptocurrency, because "If more countries adopt bitcoin as legal tender, the US federal income tax treatment of bitcoin could change. Instead of being treated as an investment that is a capital asset, bitcoin ...
El Salvador adopted Bitcoin as legal tender by passing a law yesterday, making it the first country to do so. Discover: Why Some Money Experts Believe In Bitcoin and Others Don't Beyond Bitcoin:...