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El Salvador has been buying one bitcoin a day since 2022, according to President Nayib Bukele, who confirmed that his country’s “1 bitcoin a day program” will continue until the cryptocurrency “becomes unaffordable with fiat currencies.” The bitcoins acquired from El Salvador’s daily purchases are also deposited into the same wallet address used for the … Read more
El Salvador has transferred “a big chunk” of its bitcoin holdings to a cold wallet, President Nayib Bukele has announced. “You can call it our first bitcoin piggy bank,” he said. As of writing, the wallet’s balance totals approximately 5,690 bitcoins. El Salvador Establishes Its First ‘Bitcoin Piggy Bank’ El Salvador’s President Nayib Bukele announced … Read more
A senator in the U.S. state of Arizona has introduced a set of cryptocurrency bills, one of which seeks to make bitcoin legal tender. “Centralized digital money controlled by the central bankers is slavery. Decentralized bitcoin is freedom,” the lawmaker said. Arizona Lawmaker Wants to Make Bitcoin Legal Tender Arizona State Senator Wendy Rogers has … Read more
The Central African Republic’s plan to list the sango coin in the last quarter of 2022 has been put on hold, while the scheduled unlocking of 5% of token holders’ portfolios has similarly been postponed, a statement from the team promoting the token has reportedly said. The decision to delay the listing of the coin … Read more
A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said. The blog post reiterated the IMF’s belief that risks to a country are “much greater if crypto is … Read more
A new report has claimed the Central African Republic, which became the first country in Africa to make bitcoin legal tender, recently requested the regional central bank’s assistance in developing a cryptocurrency regulatory framework. The report also said the CAR had expressed its “commitment to the single currency and respect for the statutes of the … Read more
In Bitcoin.com News’ inaugural newsletter featuring the biggest crypto and economic news stories from Africa, the head of an African regional central bank, Herve Ndoba, implores the bank’s board to introduce a common digital currency. At the same time, the regional bank warned that the Central African Republic’s bitcoin law is incompatible with regional laws. … Read more
The head of the Bank of Central African States (BCAS), Herve Ndoba, has told the regional central bank’s board that it must create a common digital currency which will be used by six countries belonging to the Central African Monetary Union (CAMU). Ndoba reportedly wants the BCAS to establish a common legal framework for regulating … Read more
In an apparent message to critics of the Central African Republic’s bitcoin decision, the country’s president, Faustin-Archange Touadéra, recently argued that understanding the crypto’s disruptive power is crucial and that “mathematics don’t account for human emotions.” According to Touadéra, the country’s future generations are likely to applaud his government for “choosing the right path during … Read more
The Central Africa Republic (CAR)’s surprise bitcoin adoption decision once again shows that the top cryptocurrency can be an alternative to fiat currency. However, the African country still needs to invest heavily in its telecommunications infrastructure. The CAR also needs to prioritize education that helps the population to familiarize itself with cryptocurrency basics. The CAR’s … Read more
