Belarge
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March 22, 2024, 09:59:20 PM |
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The Central African Republic legalized Bitcoin as legal tender back in 2022, If I'm not mistaken. So currently, some other African countries may not have specific regulations around using and accepting Bitcoin, but it doesn't appear to be illegal. Typically if there are legal gaps where Bitcoin is not officially regulated that means it falls into a gray area, but I'd argue that with no explicit bans in place, Bitcoin use remains completely legal.
Bitcoin is general and have lifted me up in life. We can't stop the ban of crypto but they're legalized in some countries, that fact can not be denied. Bitcoin is universal and presentable anywhere in the country, perhapes the Governments have made crucial laws that will prohibits the projects from exploring. When it comes to mentioning Africa countries, they don't follow because the vast majority are developing countries and the top ones are figuring out ways to claimed for bitcoin without authorization from altering understandable.
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Z-tight
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March 22, 2024, 10:00:46 PM |
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The Central African Republic is among the country that have legalized bitcoin and it is also a legal tender that can be used in the country.
The Central African Republic legalized Bitcoin as legal tender back in 2022, If I'm not mistaken.
Central African Republic declared BTC a legal tender, but not anymore, that law has been reversed and BTC is no longer a legal tender in Central African Republic. CAR is a very poor country that is lacking in electricity and also with very poor internet connection, the people of CAR also do not understand what BTC is or know how to use it, so surely that decision was bound to fail, which it did. The people of CAR are more worried about what their next meal is going to be, than spending BTC on anything.
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stadus
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March 22, 2024, 10:27:40 PM |
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bitcoin is a future digital currency, i strongly believes that before BTC celebrate 50 years in existence at least one or two African countries is going to legalis it. because block chain network is expanding every day by day. and most of the countries in Africa have the knowledge BTC how it works.
Bitcoin is already legalized in some Africa countries. I don't know the country that you are from, but my country has legalized the used of cryptocurrency, and Nigeria has the highest number of crypto daily users and adopters. Nigeria, South Africa, Morocco, Ghana and Kenya and many more countries in Africa that bitcoin is legalized. It is not compulsory that the government must use it as a legal tender before, bitcoin can be used or is legal. Bitcoin has already become dominant in most African countries, having Nigeria as the leading country when it comes to bitcoin ownership. Because of this, it would not be surprising anymore if the rest of African countries will legalize bitcoin as well in the future. However, using bitcoin as a legal tender is still not put into practice, but I think the most important thing is they come to legalize bitcoin already.
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Orpichukwu
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March 22, 2024, 10:35:43 PM |
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bitcoin is a future digital currency, i strongly believes that before BTC celebrate 50 years in existence at least one or two African countries is going to legalis it. because block chain network is expanding every day by day. and most of the countries in Africa have the knowledge BTC how it works.
Do you mean that some African countries will legalize Bitcoin, or do you mean to say that an African country would make Bitcoin a legal tender? What Frankolala said is the truth: Bitcoin is already legal in some African countries, even in Nigeria, where their government once banned crypto interaction with their banks, but later such a ban was lifted, and people are freely using Bitcoin in the country and other African countries too. If you are assuming that Bitcoin might become a legal tender in Africa in the future, probably before the celebration of Bitcoin's 50 years of existence, then you may be right, but I don't know if that can be possible.
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AmoreJaz
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March 22, 2024, 10:58:33 PM Last edit: March 25, 2024, 06:20:41 PM by AmoreJaz |
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bitcoin is a future digital currency, i strongly believes that before BTC celebrate 50 years in existence at least one or two African countries is going to legalis it. because block chain network is expanding every day by day. and most of the countries in Africa have the knowledge BTC how it works.
Bitcoin is already legalized in some Africa countries. I don't know the country that you are from, but my country has legalized the used of cryptocurrency, and Nigeria has the highest number of crypto daily users and adopters. Nigeria, South Africa, Morocco, Ghana and Kenya and many more countries in Africa that bitcoin is legalized. It is not compulsory that the government must use it as a legal tender before, bitcoin can be used or is legal. Bitcoin has already become dominant in most African countries, having Nigeria as the leading country when it comes to bitcoin ownership. Because of this, it would not be surprising anymore if the rest of African countries will legalize bitcoin as well in the future. However, using bitcoin as a legal tender is still not put into practice, but I think the most important thing is they come to legalize bitcoin already. Let us put it this way, a lot of African countries have legal approach already towards btc and other crypto services, but making it as a legal tender is on the works. You can't make this route faster as each country have their own approach on how to deal with btc as legal tender, making great impact in their financial transactions. The Central African Republic is among the country that have legalized bitcoin and it is also a legal tender that can be used in the country.
The Central African Republic legalized Bitcoin as legal tender back in 2022, If I'm not mistaken.
Central African Republic declared BTC a legal tender, but not anymore, that law has been reversed and BTC is no longer a legal tender in Central African Republic. CAR is a very poor country that is lacking in electricity and also with very poor internet connection, the people of CAR also do not understand what BTC is or know how to use it, so surely that decision was bound to fail, which it did. The people of CAR are more worried about what their next meal is going to be, than spending BTC on anything. It goes to show that not all countries aiming for btc to be legal tender can be successful. Preparation and how well their people are informed are big factors in succeeding this endeavour. In most cases, poor countries have other big problems to take care of just as mentioned - electricity and food. And to think that, electricity is very important in crypto transactions, so it is understandable that it won't pan out.
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Faisal2202
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March 22, 2024, 11:47:04 PM |
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Nigeria, South Africa, Morocco, Ghana and Kenya and many more countries in Africa that bitcoin is legalized. It is not compulsory that the government must use it as a legal tender before, bitcoin can be used or is legal.
I was going to say the same, but you added more to my knowledge because I did not know that these countries in the second paragraph have also legalized the cryptocurrencies, well, speaking of these, I am assuming our country might also legalize the crypto as well. Because we take loans from the IMF and the IMF has the ability to request our government to make some changes in the financial policies and now after the approval of ETFs. Recently, they have requested our government to apply taxes on crypto as well, and crypto is not legalize here so I guess it will be legalize soon, and same scenario can happen to you, as the remaining countries in that side might also have to match the pace (world is moving forward) and for that, they have to legalize crypto to get full advantage.
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n0ne
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March 22, 2024, 11:51:59 PM |
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Even now, it is kind of legalized in a few African countries, but it isn't the same as what we see in El Salvador. To have a similar kind of legalized usage as El Salvador, it takes time, and no president is that courageous to take a risky decision and enjoy the better part. Most countries don't take a supporting decision on legalizing bitcoin usage within their countries, thinking it may disturb the economy as the government doesn't hold control over it. This mentality needs to change, and the same will make the rest of the nation prioritize the legalization of bitcoin.
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oktana
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March 22, 2024, 11:59:27 PM |
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Yes, that is very likely. 50 years is actually a lot of time because Bitcoin is barely 20 years and it’s grown so much and has been recognized just too well. It wouldn’t just be countries in Africa. Other countries would also make Bitcoin legal. If you speak of Africa, I see a lot of Nigerians who talk about crypto everyday on Twitter; you can see how dominant they are already. Bitcoin will grow. It’s not something to second guess. These past years are a testament.
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sokani
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March 23, 2024, 10:54:18 AM |
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The Central African Republic legalized Bitcoin as legal tender back in 2022, If I'm not mistaken. So currently, some other African countries may not have specific regulations around using and accepting Bitcoin, but it doesn't appear to be illegal. Typically if there are legal gaps where Bitcoin is not officially regulated that means it falls into a gray area, but I'd argue that with no explicit bans in place, Bitcoin use remains completely legal.
Central Africa Republic made the announcement to make Bitcoin a legal tender but lack the balls to forge ahead and it backed out after one year. So currently El Salvador is the only bitcoin nation in the world. • Central African Republic - Why the legal tender experiment failed.Also, speaking of ban, Bitcoin/cryptocurrency is outrightly banned in Tunisia, Algeria, Morocco and Egypt. • Cryptocurrency legal status by country.
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CryptSafe
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March 23, 2024, 11:58:45 AM |
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OP, I believe you are an African and, as such, would want to hear and know more about Africans stand on bitcoin adoption. It is true that bitcoin is gradually gaining traction all over the world, including Africa. And as a matter of fact, some African nations have recognized bitcoin as a store of value, some recognize bitcoin as an asset, and some see it as an investment, but I am yet to hear or see any African nation that has made it into the public domain by accepting or adopting bitcoin as a means of legal tender. Although some western countries have already made their stand known, some are doing it in terms of investment and assets, while others have tagged it a reserve. However they call it, I believe that in less than no time, bitcoin will surpass most of the so-called currencies that exist. As far as I see, 50 years is way too far for it to take effect.
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johnsaributua
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March 23, 2024, 02:54:02 PM |
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YES, of course, africa has a lot of passionate human resources. I often read that their presence in the airdrop field is also quite a lot, from that I assume that bitcoin and other crypto are already quite large. Legal if in the form of investment may be acceptable for communities that know good entry points for trading. However, if it is for currency (payment) and bridges all ages and social levels there may be a need for counter aids. It could happen if readiness is very ready to work together to start financial activities with bitcoin.
Indeed, bitcoin is easier than the old barter law, but bitcoin has a pair unit with each fiat or other crypto that is unique. If for investment I agree, because it is possible to get a big profit simple X4 like between last year and now.
If the local government takes faster policies, it will certainly make it easier for the bitcoin community wherever it is, including in africa so that the circulation of bitcoin is denser and more effective. Simply put, if P2P is given freedom, it is even better if there is protection because bitcoin is real money. only different functions depending on regional policies.
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stompix
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March 23, 2024, 04:10:52 PM |
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The article forgets one thing, one of their main reason to backtrack on Bitcoin was the launch of their own token: https://sango.org/?sl=activeOf course, it turned out to be another petrocoin, 2204 already, and not even the things listed on the roadmap for 2023 have been finished. Nigeria, South Africa, Morocco, Ghana and Kenya and many more countries in Africa that bitcoin is legalized. It is not compulsory that the government must use it as a legal tender before, bitcoin can be used or is legal.
I was going to say the same, but you added more to my knowledge because I did not know that these countries in the second paragraph have also legalized the cryptocurrencies, well, speaking of these, I am assuming our country might also legalize the crypto as well. They haven't!!!! He has been corrected already like 4 times, Bitcoin is not legal in all those countries, and is in fact banned in Morroco! The harsh reality is that right now if we country countries where Bitcoin is legal versus countries where it's banned, Africa is in last place right now of all continents and a long, long way from Europe or North America.
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umbara ardian
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March 23, 2024, 04:23:17 PM |
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Your enthusiasm for Bitcoin adoption in Africa is admirable. The potential for financial inclusion, particularly for the unbanked population, is undeniable. Imagine a scenario where Bitcoin empowers individuals to manage their finances more freely.
The concern about Bitcoin potentially becoming a tool for the wealthy is a valid one. The current cost of Bitcoin creates a barrier to entry for many. Imagine a situation where the financial advantage remains skewed towards those who can already afford to invest.
The observation about Bitcoin as a symbol of challenging financial oppression is interesting. It highlights the potential for Bitcoin to disrupt traditional financial systems. Imagine a world where individuals have more control over their financial resources.
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2Pizza410000BTC
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March 23, 2024, 06:52:36 PM |
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bitcoin is a future digital currency, i strongly believes that before BTC celebrate 50 years in existence at least one or two African countries is going to legalis it. because block chain network is expanding every day by day. and most of the countries in Africa have the knowledge BTC how it works.
Of course I hope to see bitcoin legalization in some African countries in the future. Because the popularity of Bitcoin is increasing day by day. As it continues to grow, it is becoming legal in some countries. If some African countries try, they will definitely get official recognition. BTC not celebrating 50 years Some countries in Africa can legalize Bitcoin in their countries before the 50th anniversary if they wish.
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Distinctin
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March 23, 2024, 10:55:30 PM |
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@OP it is not only Africa but other parts of the world. I really hoping to see the global country accept Bitcoin as mode of payment. I am hopeful that those countries that is hostile to Bitcoin to have a change of heart and accept Bitcoin and make it legal in those country to engage in Bitcoin trading, investment and integration. I am hoping to see countries like Cameroon, Central African Republic, Gabon, Guyana, Lesotho, Libya and Zimbabwe that have implicit bans on cryptocurrency and countries like Qatar, Saudi Arabia, and China that has absolute ban on cryptocurrency[1], see and get enlightened by the benefits of countries that accept Bitcoin and have their bans on Bitcoin get lifted and start making laws that allows the use of Bitcoin in their jurisdictions.
[1] https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.aspChange is coming and I stand for it. If we have heard some countries that have lifted their bans on bitcoin or cryptocurrency, then it will also be possible with these countries that you have mentioned above. It will only take a change of government officials, because if we come to put those silent bitcoin enthusiasts like Bukele in El Salvador, then we can expect that these government will change their perception as well towards bitcoin. I know it’s going to happen later on, it’s just that when it will take effect remains left uncertain for everyone.
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bhadz
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March 23, 2024, 11:03:07 PM |
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bitcoin is a future digital currency, i strongly believes that before BTC celebrate 50 years in existence at least one or two African countries is going to legalis it. because block chain network is expanding every day by day. and most of the countries in Africa have the knowledge BTC how it works.
I don't want to look forward for that long. 5-10 years is fine of wait and anticipation but thinking of 50 years and even for the last bitcoin to get mined is out of my radar. I don't know if we'll still be existing by that time and there will be more changes to economics and financial industry by that time. So, it's just best to focus on the current time and a little few years in the future but if that's what you think that it should get prepared for then good luck. You have no control over that long to the world and global changes.
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bluebit25
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March 24, 2024, 12:11:41 AM |
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bitcoin is a future digital currency, i strongly believes that before BTC celebrate 50 years in existence at least one or two African countries is going to legalis it. because block chain network is expanding every day by day. and most of the countries in Africa have the knowledge BTC how it works.
That's a story we haven't seen yet, but it's entirely possible that it could come true. I'm not sure about the next 10 years, let alone the next 50 years, but with that line of thinking I also believe in the future popularity of bitcoin and that most countries will adopt its use. And obviously the acceptance in some African countries, and right now bitcoin is also very popular in this region, there are many issues surrounding it. But I still have a little hope that life will be peaceful in the journey that bitcoin will develop.
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Pedrination
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March 24, 2024, 06:02:37 AM |
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You're referring to legal adoption as a legal tender, like the recent move in an African country. While Africa holds vast resources, its financial policies don't wield substantial global economic influence. Should there be serious warnings or bans on Bitcoin in major economies like the US or EU, other countries are likely to follow suit.
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|MINER|
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 24, 2024, 06:30:38 AM |
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bitcoin is a future digital currency, i strongly believes that before BTC celebrate 50 years in existence at least one or two African countries is going to legalis it. because block chain network is expanding every day by day. and most of the countries in Africa have the knowledge BTC how it works.
I think there will be a time in the future when most countries in the world will legalize Bitcoin. And yes of course I always want Bitcoin to be legalized in countries around the world where Bitcoin is currently illegal. And I think that's what every bitcoiner or bitcoin holder wants. It is also really good news that people in Africa now know about Bitcoin and how it works.
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Crypto Library
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March 24, 2024, 07:14:22 AM |
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bitcoin is a future digital currency, i strongly believes that before BTC celebrate 50 years in existence at least one or two African countries is going to legalis it. because block chain network is expanding every day by day. and most of the countries in Africa have the knowledge BTC how it works.
How you believe that before bitcoin celebrateit 50years the one or two African countries will only legalized it where already I am seeing more than five countries don't have any ban on there. Are you saying this based on correct information? I am seeing that in Africa - Namibia, South Africa, Angola, Mauritius, Central African Republic, Tanzania, Nigeria in these countries bitcoin is legal some of them have banking ban but most of them legalized bitcoin. If you want you can check this information from Wikipedia- Legality of cryptocurrency by country or territory. Moreover, the countries where bitcoin is illegal are called third world countries and it is a common problem of third world countries and first world countries have no problem to legalize bitcoin. Because they know that only by Legalizement of Bitcoin will it be possible to control it, I mean it will be easier to detect criminal activities.
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