IMF Expresses Concern Over Central African Republic’s Bitcoin Adoption

[waybesuricata]

The International Monetary Fund (IMF) has voiced concerns over the Central African Republic’s adoption of bitcoin as legal tender saying it raises a number of challenges for the country and region.

The global authority expressed the same concerns that it did when El Salvador adopted bitcoin, namely macroeconomic and legal worries.

IMF officials assisting in addressing concerns
“The adoption of bitcoin as legal tender in the Central African Republic raises major legal, transparency, and economic policy challenges. IMF staff are assisting the regional and Central African Republic’s authorities in addressing the concerns posed by the new law,” an IMF spokesman told Bloomberg.

The National Assembly of the Central African Republic passed a resolution to accept bitcoin as legal tender last month, a move that took many observers by surprise, becoming the first country in Africa, and the second in the world, to recognize bitcoin as a currency.

Source:  https://beincrypto.com/imf-expresses-concern-over-central-african-republics-bitcoin-adoption/