Central African Republic adopts Bitcoin as legal tender

On April 27, 2022, the Central African Republic's National Assembly passed and President Faustin-Archange Touadera signed a bill making Bitcoin legal tender alongside the CFA franc, making CAR the second country after El Salvador to do so and the first in Africa. In a nation with roughly 11% internet penetration, the practical case for a Bitcoin standard was thin, and the country repealed the law in March 2023 under pressure from the regional central bank and the IMF.