Lawmakers of the Central African Republic (CAR) unanimously voted and passed a bill to adopt Bitcoin (BTC) as legal tender, becoming the second nation in the world after El Salvador to approve the usage of the cryptocurrency. CAR President Faustin-Archange Touadéra announced that the latest move puts his nation on the map of the "boldest and most visionary countries". Government sources stated that the approval of Bitcoin's use could also aid in the nation's economic recovery and growth from the effects of the nation's decade-long civil war.  

As of 2022, the Central African Republic is one of the world's least economically developed nations, with a Gross Domestic Product estimated to be under the equivalent of 2.4 billion United States dollars. The nation currently ranks 188 out of 189 in the United Nations Development Programme’s Human Development Index (HDI).  

Currently, local media report that making Bitcoin legal tender alongside the French-backed regional CFA franc as had mixed responses in locals. On one hand, some people argued that the adoption would not only make transactions, foreign currency exchanges, and remittances easier, but would also aid in reducing the use of the CFA franc, which is seen by some as a relic of the colonial era and enables France to continue to affect the economics of nations using the currency. On the other hand, some people argued that as the World Bank estimates that under 12% of CAR citizens have regular access to the internet and under 16% have regular access to electricity, the adoption of Bitcoin as legal tender could cause more problems than it solves.  

Similarly, the International Monetary Fund also voiced its concerns of the adoption of Bitcoin, citing transparency and economic policy challenges.  

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