Will this bank prop up digital currency after the Central African Republic adopted Bitcoin as a legal tender?
as legal tender, calling the move “problematic” and something that could have a “substantial negative impact” on the monetary union of Central Africa.
Sub-Saharan African nations could face significant challenges introducing cryptocurrencies and CBDCs to areas with limited access to electricity, both for transfers and mining. According to 2020 data from the World Bank, the CAR and Chad both among the lowest percentages of the population with access to electricity, at 15.5% and 11.1%, respectively.
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