A look at the Central African Republic's decision to adopt bitcoin as legal tender in April 2022 and launch a half-baked “Sangocoin” cryptocurrency in July 2022
@Techmeme@techhub.social So fucking tired of people treating the decisions of kleptocratic autocrats (whether Nicaragua or CAR) to “adopt crypto as legal tender” as anything more than an obvious ploy to plunder national coffers more easily. …
El Salvador and the Central African Republic have made Bitcoin legal tender, but market volatility has undermined this experiment. Here's what to know: https://www.cfr.org/...
The Central African Republic heralded its status as the only country in Africa to adopt Bitcoin as legal currency, but 8 months later, many questions remain about what's really going on. Supported by Omidyar Network. https://www.vice.com/...