Bitcoin Legal Tender in Central African Republic

[nullama]

Those of us who live within the borders of the United States must accept official U.S. legal tender for the payment of debts. I believe that this is the only meaning of 'legal tender'.

I snipped out the last part of your post, where it seems you were on the right track as to what "legal tender" means, but it doesn't mean merchants have to accept it; it means the government has to accept it for payment of whatever debts their citizens owe them (like taxes).  A merchant is well within its rights to only accept bitcoin if it wants to, or USD, or whatever (at least in the US).

I haven't read through this entire thread, but I read the first page and it isn't clear to me why this is a such a big deal.  Everyone here is heaping praise on CAR for this move, but such praise was also heaped on Microsoft, Dell, and other companies when they started accepting bitcoin--and then there wasn't exactly an outcry when they stopped, which CAR could also do.  El Salvador could also revoke bitcoin's legal tender status as well, so the skeptic in me isn't jumping for joy about this news. 

What remains to be seen is how many people in those two countries actually use bitcoin to pay their taxes and whatever else.

You're absolutely right.

But keep in mind that what you're referring to is federal law in the United States. States can have different laws. Here's an in depth answer that explains this:

     Q: I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn’t this illegal?

    A: The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled “Legal tender,” which states: “United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.”

    This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.

As noted above, however, although no federal regulation requires businesses to accept currency and coins as payment, local regulations may do so. Massachusetts has had such a law in place since 1978, and New Jersey enacted similar legislation in 2019. A few cities (e.g., San Francisco, Philadelphia) have prohibited stores from going cashless as well.

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[Joshapat]

Good news because there will be a country that follows El Savador by legalizing Bitcoin, with facts like this so I do not hesitate and panic even though I see that the market is red, it's better to focus on continuing to buy because I'm sure many countries will soon follow the Republic of Central Africa.

[fillippone]

     Q: I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn’t this illegal?

    A: The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled “Legal tender,” which states: “United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.”
<...>

As noted above, however, although no federal regulation requires businesses to accept currency and coins as payment, local regulations may do so. Massachusetts has had such a law in place since 1978, and New Jersey enacted similar legislation in 2019. A few cities (e.g., San Francisco, Philadelphia) have prohibited stores from going cashless as well.

[/quote]

At the end of the day, "legal tender" means you can pay your taxes with that currency. All other definitions are a little bit shacky. This is why we have those monstrosities like "legal tender de facto".

[Zlantann]

What remains to be seen is how many people in those two countries actually use bitcoin to pay their taxes and whatever else.

The law that legalized Bitcoin in Central African Republic grants companies and citizens the freedom or right to pay their taxes in Bitcoin, but CAR has many fundamental problems. Nine out of Ten people do not have internet, and only one in seven has electricity. And internet and electric bill are very high. Unlike El Salvador that has a growing number of individuals and businesses that are familiar with Bitcoin, CAR's population are highly ignorant of this currency. The governments can at-least mandate civil servant and government enterprises to pay tax in Bitcoin but most of them lack Bitcoin education.

Apart from other top challenges such as electricity, internet, security and infrastructures the most important task before CAR government is Bitcoin education. For CAR to succeed as a Bitcoin nation , majority of its inhabitants must become acquainted with the basics such as a bitcoin wallet, recovery phrases or a wallet’s public address. I think Central African Republic needs or the help and assistance. They need the assistance and partnership of key players in the Bitcoin industries such as cryptocurrency exchanges, payment processors, and wallet providers. They also need volunteers from Bitcoin Foundations and Nonprofit organizations that would engage in massive education of the nation’s population. If I have opportunity to be part of a volunteering team or organization I can give up-to four weeks free service in CAR. CAR is a big plus to the Bitcoin community but much work needs to be done.

Although all this will be possible if the government have the right intentions for adopting Bitcoin as a legal tender. 

[Majestic-milf]

 I see this as a bold step indeed, because looking at them, it's only a select few who have bank accounts, but I feel this adoption would help encourage individuals to save. Although concerns have been raised over this cryptocurrency and it's low internet connectivity, still this move will spur economic growth and help stabilize the war- wracked country.

[fillippone]

Another good reportage from my friend at the BIP show.

You see the news of a delegation of Bitcoiner visiting the country.

Bienvenue à Bitcoin, Central African Republic!



Tho of the members of this delegation were "spies" of the BIP show. So they gave them a little feedback on their trip over there.

Here you have the translation.

Rikki: We have already spoken in recent weeks of the new state that has been added to the list of two states that have adopted Bitcoin and cryptocurrencies as Legal Tender, we are talking about the Central African Republic. We have some news in this regard because in recent days an international delegation of Bitcoiner went to Central Africa at the direct invitation of the country and therefore of the government to advise the executive precisely on how to set up the first steps to build this very special Legal Tender. Those who follow us know, we had expressed more than one perplexity, because the situation in central Africa is very different from what appears to be in El Salvador. Well you must know Guybrush that we are sprawling like the Specter by now, because of the delegation that was sent to Bangui, the capital of the Central African Republic, nestled secret agents of the Bitcoin Italia podcast

Guybrush: "So we have some secret information !?"

R: More than one Guybrush among other things, more than one, the well-informed say, there is a report by MI5, of the British secret services, which seems to denounce the fact that there was more than one secret agent of the Bitcoin Italia Podcast present, and therefore we have news of the first hand as they say fresh; and I must say that they are also good news, we must celebrate because I was in constant contact with friends, colleagues who were present at this meeting and who therefore met the president who received them about twenty minutes after landing in the capital, and they tell me to be a very cultured man, very focused, and who immediately expressed to them the absolute will to want to do something that could really be an opportunity for the country and also for the people. it was a formal meeting, but the first impression that President Faustin-Archange Touadéra made was very positive we must learn this name: Faustin-Archange Touadéra.

G:Wait for me to try to say it: Faustin-Archange Touadéra.

R: Guybrush exactly.
After that, there were several days, 4 total official meetings in which we talked about the peculiar characteristics of the Republic of Central Africa as a nation. The delegation met the Minister of Finance and all his entourage, who explained to him how in reality behind this thing there is really the will to want to free himself from the African Colonial Franco system because precisely they have described to us how their economy is totally dependent directly on France. Think Guybrush, I didn't know, but France decides the state budget. The Central African Republic has been entrusted with a budget of the equivalent of US $ 300 billion in Colonial Francs. For comparison, $ 300 billion is 5% of Cameroon's budget.
So we are really talking about a start for what are the needs of the State and they are there you understand: it is as if France gave them pocket money: "keep it, little child, these are your 5 Euros, buy the candies and make them last until next week".

G: Well you have to see the history of the Central African Republic, maybe it is tormented by dictatorships

R: But of course yes, we have also told it of course, but the fact remains that until proven otherwise it is a sovereign state that is still subjugated and that they told us once again not it is such a poor state, we have said it: very rich in gold reserves, rich in gold deposits. Too bad that according to the agreements made after independence 85% of its gold reserves must be deposited in the French Central Bank, in France!

G:Ok, here it is already and it looks more like a half robbery though ..

R:Without speaking of the fact, according to our sources the finance minister continues, that the colonial franc in the last 10 years has devalued by 50%, and therefore has lost a bit the role of stablecoin, let's say, that it could have had in the 80s, 90s, and 2000s, were compared to other hyperinflationary national currencies of African states maybe it gave more structure to an economy that was however so fragile, for 10 years in this part it began to be artificially devalued by the French Central Bank.

G: So the only one using by now that could have this colonial instrument has also failed.

R: The speech that was reported to me was of a disarming frankness, that is, the government's position is: we are in a position to be able and willing to try anything, because there is nothing worse than that, understood. There really isn't anything. Besides my contacts, I also shot something from there, they sent me pictures, and it is very striking that we are really talking about a state in great difficulty. Bangui, the capital, has been described to me as a 9 square kilometre slum that makes Rio's favelas look like a luxury resort. Outside the airport of the state capital, the roads are not even paved, the houses are little more than a shack. They also tried to go around alone, don't forget, but in short, it is something you certainly do during the day at rush hour, certainly not at night to go dancing. So a real situation… there were indeed people who used to travel a lot; it was described to me as by far the poorest and most impoverished place, even at the very first impact, that they have ever seen. People are used to living and working in developing countries, not people used to Dubai.

G: So we have on the one hand the most advanced technological financial, political, and social instrument ever and in the poorest state ever.

R: Exactly, but with so many ambitions to change course, to take off a yoke that has been suffocating it for decades. When asked how your citizens will use Bitcoin since there is no internet, the answer was very clear: initially the law is to give an economic opportunity to the state, because in fact the country does not have the infrastructure, but it is investing: 10,000 kilometres of optical fibre will be inaugurated in July. So they are investing a lot to bring the internet as fast as possible to the population. Obviously, it is not something that will be done in six months, it is something that will take years, but it is in progress so there is a willingness to invest. there is a lot of interest in Bitcoin mining at the state level. There is a hydroelectric and solar expansion program also finalized and certainly triggered by Bitcoin mining, in order to be able to mine Bitcoin for the Central Bank of the Central African Republic. So in my opinion this other very positive signal the thing that I have and I found really cool and that this delegation has been invited a whole series of appointments including the first day they met so this happened on Thursday they met a delegation of entrepreneurs to whom they showed the functioning of the Lightning Network Payment Wallet, arousing, they tell me, an incredible enthusiasm in the small to medium sellers who had come to see the event. And if sometimes the Lightning network is magic for us, imagine what it must be like for a small dealer in Central Africa. And then on Friday, a big event was organized in the conference room of the African Center for the Economy and for the CEMAC Monetary Community. Invited 400 representatives of government, industry, industry and attention, not an insignificant detail, not only from Central African Republic but also from Gabon, Cameroon, Chad, Republic of Congo and Equatorial Guinea, so beware, where this application has been asked to do a presentation on Bitcoin and to answer some questions, talking about the experiences already accumulated by El Salvador describing the fundamental characteristics of Bitcoin and above all the speech substantially could have been titled "there is Bitcoin and there are shitcoins". That is, from the beginning the warning was rightly clear: if you want to have the support of the international community in your project, you must be clear: the protocol is Bitcoin. And if you want to get caught by Algorand, by Cardano, by people who are worse than your criminals, go ahead, but your project will be able to count on the ridiculous communities of 50 people of those projects without a future and without technology.

G: So the road is long because as you said point out, even if only to improve the technological infrastructure on which the company is based, the internet will take years. It is nice to see that at least the road is long but it is the right one. Here is a question in this case, do you know if from our Insiders you know why in the text we read two months ago they were mentioned, it was not exactly clear, only Bitcoin but there were also cryptocurrencies, which wanted to keep the doors open for any ...

R: From this point of view, there was just an admission of guilt that is the message that these delegates received was clear: we don't know shit, we desperately want to try to spend this card because for us it can only be an opportunity, come to explain to us, come and train us, help us: may the Bitcoin community around the world gather around the Central African Republic because we are interested in this opportunity. The law is written badly because we are incompetent: help us to correct it!

G: Well, let's say that it is betting on the Bitcoin community as far as being part of it I can guarantee that 99% of the members are in good faith and will be able to seriously help this kind of request but there will be difficulties that compared to El Salvador are not negligible. That is, then you say and as you told, evidently in this case the adoption will be first from above. So let's say from the state that it will implement some infrastructure, some technology and then from there instead. But in El Salvador they tried to do the opposite: they tried to start making people with Wallets use the Lightning ATM these things here is an approach that must necessarily be different because two geopolitical contexts are completely different but at least we appreciate that the intention is that good.
Not just one last piece of news that I know of is a scoop, I haven't seen it reported yet by any press so we know it first at the Bitcoin Italia podcast. Do you remember that when I spoke of the Legal Tender in Central Africa I spoke of the fact that there were suspicions of involvement in the law by a well-known scammer Ponzi Scammer entrepreneur of Cameroonian origin. Just as the delegation was still in Central Africa on Saturday, it was arrested on the territory of Central Africa, jailed and charged with fraud.

G: Good! That's a good sign already. Are we talking about a coincidence?

R: I do not know. I don't know it is difficult to say this we must not delude ourselves we said we are talking about a state where corruption is endemic and therefore it is not that that was the only bad apple that surely gravitates around the centres, the ganglia of power, or perhaps sitting directly in Parliament. But here I have to tell you the truth: I heard from my friends before they embarked to go to visit the country and to say that they were sceptical was little. Upon returning, I felt enthusiastic about them, and this is a good sign.

In reality, I have always read great things almost everywhere about the President whose name I do not remember, but I will study him. he is very erudite, he has studied and he seems very intelligent, so probably having to deal with him gives you enthusiasm because it is really a project in which you really go to change the lives of the people of an entire state. Bitcoin can do this, it has the potential to do it. If maybe for us the mass adoption of Bitcoin could have a different meaning, in a state like the Central African Republic you come back thinking fuck, I'm doing something good for humans. Here the enthusiasm must be what was probably conveyed. And this is the hopeful intent of the president of the Central African Republic. So far from all the signals, you tell and that I have perceived it seems to me that this is the intention. We hope not to be disappointed.

No no in fact obviously the conditional is always a must. But let's say that I respect the fear I had in seeing Bitcoin badly managed in a corrupt republic. I was already seeing the headlines: "Here is Bitcoin is really a scam" because this is what happened in Central Africa I am quite reassured. However, we will continue to closely follow what happens in the country and then continue to follow us because by now we always tell you but here we hear about Bitcoin as I do not tell anyone in Italy guys even with news and very fresh first hand from the official delegations that work for Legal Tenders around the world. But when does it happen again, guys!

If you understand Italian, you can listen here, from 21:45.

S04E21 – In Tour

[Zlantann]

Another good reportage from my friend at the BIP show.

You see the news of a delegation of Bitcoiner visiting the country.

Bienvenue à Bitcoin, Central African Republic! (https://galoy.io/bitcoiner-in-central-african-republic/)



Tho of the members of this delegation were "spies" of the BIP show. So they gave them a little feedback on their trip over there.

Here you have the translation.

The most important factor for the success of nations adopting Bitcoin as legal tender is political will. If the leaders are sincere and have no hidden agenda for the adoption of Bitcoin then the process would prosper.  Sincerity and seriousness would make them channel the necessary human, financial and material resources to ensure that the necessary systems and infrastructures are available for the smooth running of Bitcoin processes. From what I have read from the BIP show today, I believe or perceive that CAR have the political will. The country is drowning and is desperate to survive. They have been subjected to a brutal and heartless economic colonialism that have turned a country rich in profitable minerals to a beggarly nation. Hence they are willing to take any chance or risk. From the interview I can feel the desperation of the government of CAR. We know it would not be an easy and short journey, but the government is taking the right steps. Investing in Bitcoin education, infrastructures, internet facilities shows that the government is willing and serious to make Bitcoin a legal tender.
My fear is that politicians cannot be trusted and a change of government might lead to a change in government policy on Bitcoin. But for now I am celebrating this good news.              

[fillippone]

Another good reportage from my friend at the BIP show.

You see the news of a delegation of Bitcoiner visiting the country.

Bienvenue à Bitcoin, Central African Republic! (https://galoy.io/bitcoiner-in-central-african-republic/)



Tho of the members of this delegation were "spies" of the BIP show. So they gave them a little feedback on their trip over there.

Here you have the translation.

The most important factor for the success of nations adopting Bitcoin as legal tender is political will. If the leaders are sincere and have no hidden agenda for the adoption of Bitcoin then the process would prosper.  Sincerity and seriousness would make them channel the necessary human, financial and material resources to ensure that the necessary systems and infrastructures are available for the smooth running of Bitcoin processes. From what I have read from the BIP show today, I believe or perceive that CAR have the political will. The country is drowning and is desperate to survive. They have been subjected to a brutal and heartless economic colonialism that have turned a country rich in profitable minerals to a beggarly nation. Hence they are willing to take any chance or risk. From the interview I can feel the desperation of the government of CAR. We know it would not be an easy and short journey, but the government is taking the right steps. Investing in Bitcoin education, infrastructures, internet facilities shows that the government is willing and serious to make Bitcoin a legal tender.
My fear is that politicians cannot be trusted and a change of government might lead to a change in government policy on Bitcoin. But for now I am celebrating this good news.              

I guess they were surprised. Generally speaking they are less prone to celebrating success of political initiatives. They have been wandering in El Salvador for almost two months, yet they are very skeptical about every political initiative.
Given the long track record in corruption and political ineptitude in CAR, I guess they are still sceptical about the future bitcoin law, but having this positive feedback from people familiar with the situation is a welcome news.

[aysg76]

I guess they were surprised. Generally speaking they are less prone to celebrating success of political initiatives. They have been wandering in El Salvador for almost two months, yet they are very skeptical about every political initiative.
Given the long track record in corruption and political ineptitude in CAR, I guess they are still sceptical about the future bitcoin law, but having this positive feedback from people familiar with the situation is a welcome news.

Implementation of bitcoin as legal tender in these countries is very hard job to do but they still find it as option to revive their economic conditions through it's usage is welcome step.You see there are lot of problems in CAR and people face poverty and war from a long time and most of them might not be familiar with what bitcoin is.The government approach can help them spread awareness among them but how will they provide internet access to them as conditions are little better in El Salvador but still taking these big steps towards adoption are key to success in the long run.

The government could give it a boost by investing some amounts at this time and storing it in treasury as an asset reserve which can be used at the time of price appreciation which will boost the funds and can take steps onto progress for the country but it will be hard task to achieve.

[Zlantann]

The government approach can help them spread awareness among them but how will they provide internet access to them as conditions are little better in El Salvador but still taking these big steps towards adoption are key to success in the long run.

Edited out

G: So we have on the one hand the most advanced technological financial, political, and social instrument ever and in the poorest state ever.

R: When asked how your citizens will use Bitcoin since there is no internet, the answer was very clear: initially the law is to give an economic opportunity to the state, because in fact the country does not have the infrastructure, but it is investing: 10,000 kilometres of optical fibre will be inaugurated in July. So they are investing a lot to bring the internet as fast as possible to the population. Obviously, it is not something that will be done in six months, it is something that will take years, but it is in progress so there is a willingness to invest. there is a lot of interest in Bitcoin mining at the state level. There is a hydroelectric and solar expansion program also finalized and certainly triggered by Bitcoin mining, in order to be able to mine Bitcoin for the Central Bank of the Central African Republic.

The issue of access to the internet is very important because it serves as the bedrock of Bitcoin transactions. But From the report of the BIP show delegates, the government is investing heavily on the internet to ensure that majority of its citizens have access to it. According to the SANGO initiative the government is establishing a Central African Backbone (CAB) internet interconnection that will power the entire CAR digital transformation. Although it would not be an instant achievement but if the government matches its lofty plans with necessary actions, Central African Republic would be a Bitcoin hub in few years.

[Pomogator]

I think they will have big problems with this idea. It is very important that some developing countries try such that in the future more developed countries, looking at their mistakes, will already make really good cryptoeconomics in their state.

[logfiles]

Well this is just fresh news. There is no full story yet. But what do you guys think about this?


https://twitter.com/WatcherGuru/status/1543679296224608263

Is their goal slowly shifting away from Bitcoin as a legal tender to a government controlled coin?
Do you think the sango coin will receive mass adoption in the country?

[Zlantann]

Is their goal slowly shifting away from Bitcoin as a legal tender to a government controlled coin?

Unlike the unshaken and practical political will of the government of El Salvador, the Central African Republic adoption of Bitcoin as a legal has been viewed in some quarters as lacking merit and credibility. The Sango website has been closed (just giving countdowns) and the online framework document cannot be found. The whole Bitcoin issue in CAR is becoming very complex and complicated to understand. The government of El Salvador has never sought for any alternative to Bitcoin which is contrary to the position of the Central African Republic position. Although the Law on the legalization of crypto doesn’t prohibit the introduction or use of other cryptocurrencies and the President claimed that Sango coin and Bitcoin would be used. But government’s introduction of its own Sango coin is seems like a conscious attempt to shift citizen’s attention away from Bitcoin. Instead of putting more effort for the uses of Bitcoin, government would rather promote its own coin that could be controlled and manipulated by the CAR government. The framework or operations of the sango coin might unveiled very soon.

Do you think the sango coin will receive mass adoption in the country?

Although the adoption of sango coin would still face the challenges that have marred the easy adoption and use of cryptocurrencies in CAR which includes lack of internet facilities, epileptic power supply, poverty, illiteracy, etc. It is important to state Bitcoin has no competitor in the cryptocurrency space and I don’t think there would ever be one. Regardless of the government efforts to make Sango a household name in CAR, Bitcoin would be massively adopted than the national coin.

[boyptc]

An official 2nd country to adopt bitcoin as a legal tender. Well done to Central African Republic.

Well this is just fresh news. There is no full story yet. But what do you guys think about this?


https://twitter.com/WatcherGuru/status/1543679296224608263

Is their goal slowly shifting away from Bitcoin as a legal tender to a government controlled coin?
Do you think the sango coin will receive mass adoption in the country?

And now where the fun is being cut. For now, I'd say that let's just wait for everything in application and let's see where is this heading but making bitcoin as a legal tender then that's pretty good news.

[fillippone]

Apparently they are being directed in a wearing way:



Coinbase is shitcoinery.
I wrote above they needed advice on Bitcoin, and apprently they were easy prey for Coinbase on the road to shitcoinery.

[stompix]

The most important factor for the success of nations adopting Bitcoin as legal tender is political will. If the leaders are sincere and have no hidden agenda for the adoption of Bitcoin then the process would prosper.  Sincerity and seriousness would make them channel the necessary human, financial and material resources to ensure that the necessary systems and infrastructures are available for the smooth running of Bitcoin processes. From what I have read from the BIP show today, I believe or perceive that CAR have the political will.

And as time passes...

Unlike the unshaken and practical political will of the government of El Salvador, the Central African Republic adoption of Bitcoin as a legal has been viewed in some quarters as lacking merit and credibility. The Sango website has been closed (just giving countdowns) and the online framework document cannot be found. The whole Bitcoin issue in CAR is becoming very complex and complicated to understand. But government’s introduction of its own Sango coin is seems like a conscious attempt to shift citizen’s attention away from Bitcoin. Instead of putting more effort for the uses of Bitcoin, government would rather promote its own coin that could be controlled and manipulated by the CAR government.

The mirage is slowly disappearing and instead of the beautiful oasis, you still get that hyena den full of the bones of the ones that believe in it.
I always said, no matter how you build something, no matter how bulletproof the concept is if the foundation is weak if the people who are building it are cheating on the materials and on the plan, you will not be able to build anything.
This whole trend of corrupt, poor as hell, bankrupt countries suddenly embracing BTC and wow, everything will be fine just because..

I laughed when there was that meeting in Salvador and everyone got angry when I said, those are the poorest countries in the world, those are the countries that have been driven to absolute poverty by the same leaders who are smiling there for photos after steeping from their limos and taking toast in front of a BATM, what do you expect from them?
Just because they are embracing BTC in their political statements do you think they will be less corrupt, they will lie less often, they will finally do something for their own people, the first time in 50 years just because.... what???

You need a solid foundation for a solid economy if the foundation is flawed to the core (insert pun about the fiasco of the bitcoin foundation here) nothing can help.

And look what we have here now, a centralized shitcoin backed by one of the worse companies, how is this shitcoin going to help anything other the pockets of its creators?

[JayJuanGee]

Apparently they are being directed in a wearing way:



Coinbase is shitcoinery.
I wrote above they needed advice on Bitcoin, and apprently they were easy prey for Coinbase on the road to shitcoinery.

Wow.. it is good to know that folks are watching this and paying attention.. and of course, CAR is such a small location that they do have a lot of potential problem areas. and they might need any help that they can get, while at the same time, there needs to be care in terms of foundational principles, otherwise they end up getting drug into some kind of shitcoin nonsense that claims to be about bitcoin but ends up with some kind of crazy confusion.... 

Bitcoin focused would seem to be the best case for any country for their first 3-5 years or longer into the scene.. and then if they could get established as bitcoin-focused then maybe after 3-5 years, it might be acceptable for them to dabble into shitcoins on a kind of minority level... perhaps? 

We saw the willingness of Panama to be more open to "crypto" assets too... even though their law seems to still be in its figuring it out stage, as compared with El Salvador that seems to be our best example so far of striving to be bitcoin-focused in its so far almost 1 year of bitcoin implementation.. still early.. that we are barely getting on 1 year with El Salvador's model/example regarding how to possibly "do it right."

[Rikafip]

Is their goal slowly shifting away from Bitcoin as a legal tender to a government controlled coin?

Their goal was never to actually adopt Bitcoin as a legal tender, they just wanted to ride the hype. And even if they really wanted to, they couldn't as they are on the the poorest countries in the world where majority of people don't even have electricity. Talk is cheap.

Regardless of the government efforts to make Sango a household name in CAR, Bitcoin would be massively adopted than the national coin.

We are talking here about the country that doesn't even have basic infrastructure needed in order to adopt bitcoin on any scale so mass bitcoin adoption is nothing but a pipe dream. Can you image something as volatile as Bitcoin being used as a legal tender in country where people can't afford food on the regular basis? I don't.

[Doan9269]

I think they will have big problems with this idea. It is very important that some developing countries try such that in the future more developed countries, looking at their mistakes, will already make really good cryptoeconomics in their state.

Definitely Central African Republic is learning something pretty good from El-Savador's adoption and how they make not full dependency on the bitcoin adoption but also creates means to make good economic benefits out from the bitcoin adoption in their country, they have many plans in place in which through the bitcoin adoption can help increase their GDP, internal generated revenues IGR, in consideration with the introduction of their first world bitcoin tourist centre.

Now that Central African Republic is taking the moves in like manners to help increase active participation of their citizens with the use of bitcoin in their day to day economy is a bold step in consideration and they will make a better offers with benefits out of it, this action taken by CAR isn't a correction of their first move of adopting bitcoin but rather a continuation to progress thier adoption and make it available option for every of their citizens to make use of.

The Sango project’s plans include building a “legal crypto hub” aimed at attracting businesses and global crypto-enthusiasts, expanding the adoption of Bitcoin in the country, and creating a virtual “crypto island” — a special economic zone in the metaverse that will seemingly have an equivalent space in the physical world.https://cointelegraph.com/news/central-african-republic-president-launches-crypto-initiative-following-bitcoin-adoption?utm_source=thecryptoapp

[SuperMariob]

Another Country Adopted Bitcoin as a Legal Tender.

Central African Republic adopts bitcoin as legal currency

The Central African Republic has adopted bitcoin as legal tender, the president's office said Wednesday, becoming the second country in the world to do so behind El Salvador.

Lawmakers unanimously adopted a bill that made bitcoin legal tender alongside the CFA franc and legalised the use of cryptocurrencies, and President Faustin Archange Touadera signed the measure into law, his chief of staff Obed Namsio said in a statement.

The CAR "is the first country in Africa to adopt bitcoin as legal tender," Namsio said.

"This move places the Central African Republic on the map of the world's boldest and most visionary countries," he declared.

This is the official document:

https://i.imgur.com/9k1RP8l.jpg


Translation for your convenience:

PRESIDENCE OF THE REPUBLIC
DIRECTION OF CABINET NP:009/PR/DIRCAB/22.

CENTRAFRICAN REPUBLIC
DIGNITY-UNITY-WORK


PRESS RELEASE

The President of the Republic, Head of State, Professor Faustin Archange TOUADERA took note with satisfaction and enthusiasm of the unanimous decision of the National Assembly relating to the bill which establishes the legal framework which governs crypto-currencies and establishes Bitcoin as the official currency in the Central African Republic. The adoption of Bitcoin as an official currency represents a decisive step in opening up new opportunities for our country.

Through this historic decision, the economic recovery and peacebuilding plan is entering a new phase and the Executive is demonstrating consistency in the application of the agenda which provides for the achievement of strong and inclusive growth for the benefits of development and economic performance, which ultimately will generate prosperity for our fellow citizens.

The President of the Republic, Head of State will support all the necessary efforts, in compliance with the law, in order to complete this process which places the Central African Republic on the map of the most courageous and visionary countries in the world, to everything that means and implies the acceptance of cryptocurrencies as means of payment. The Central African Republic is not only the first country in Africa to adopt Bitcoin as a benchmark currency but also the first country in the world to unanimously adopt the bill that governs cryptocurrency. We are setting out on a new path that will mark a new stage for our country while being aware of the difficulties that we will have to face to pursue our mission.

In a progressive, forward-looking vision, our Nation must be able to pursue its destiny and join the ranks of those who not only fully understand the importance of Blockchain technology but also hasten to legislate.

Our priority is to think about how the lives of our fellow citizens will change and about the means necessary to create a stable and prosperous economy. We must do everything in our power for the common good, bearing in mind the heritage that we have a duty to leave to future generations.

Done in Bangui, April 26, 2022

The Minister of State, Director of the Office of the President
OBED Namsio

Here Following the Complete Text of the Law:

	https://i.imgur.com/F5dAxvn.jpg	https://i.imgur.com/5sjuMYr.jpg
	https://i.imgur.com/Ji4taKa.jpg	https://i.imgur.com/4enaBmU.jpg
	https://i.imgur.com/sgORdQB.jpg	https://i.imgur.com/2DWO4fA.jpg

Here you can find the law in Google Format, for readability and ease of use.

	https://i.imgur.com/Q7afR2U.jpg	https://i.imgur.com/uFveegu.jpg
	ENGLISH	FRENCH

The news is not completely unexpected though, as Bitcoin Magazine published an article on the setting up of the legislation allowing this decision:

CENTRAL AFRICAN REPUBLIC LAUNCHES LEGAL FRAMEWORK FOR ECONOMIC USE OF BITCOIN

• The Central African Republic is developing a legal framework enabling the economic use of cryptocurrencies like bitcoin.
• The Finance Minister explained they will not be replicating El Salvadoran legislation that made bitcoin legal tender.
• Infrastructure development will be required to achieve wide-spread economic use of cryptocurrencies.

Bitcoin Magazine produced another article on the matter:

THE CENTRAL AFRICAN REPUBLIC ADOPTS BITCOIN AS LEGAL TENDER

The Central African Republic (CAR) has adopted bitcoin as legal tender, the president’s office said on Wednesday.

The move makes the African country the second nation in the world to officially adopt BTC as a lawful currency, enabling its citizens to use it in regular commerce as well as to pay taxes.

CAR lawmakers unanimously approved a bill legalizing the use of cryptocurrencies in the country and making bitcoin and the CFA franc legal tender. President Faustin Archange Touadera then signed the measure into law, his chief of staff Obed Namsio said in a statement.

https://i.imgur.com/44b5Ufp.jpg

We have to remember that The Central African Republic is in a monetary union together with other Sub- Saharian States, adopting the African Financial Community (CFA) franc.

This peg has been actively used by the French authorities to actively rule that region.
You can read more here:
True Sovereignty? The CFA Franc and French Influence in West and Central Africa
Fabric of Reform Cover The Fabric of Reform

Plenty of opportunities here:
https://i.imgur.com/aGKSKZH.png


CENTRAL AFRICAN REPUBLIC Cheatsheet:

CENTRAL AFRICAN REPUBLIC on Wikipedia
CENTRAL AFRICAN REPUBLIC on CIA World Factbook

More and more countries will follow. El Salvador was the first one. Now some Afrtican counetries are coming. With the inflation rate growing every year we will see more and more countries adopting Bitcoin as a legal tender. Probably not in Europe yet....