Shock Decision of Court in Central African Republic Declaring Bitcoin as Official Currency!

According to Bloomberg’s report, of bitcoin Supreme court of the Central African Republic (OAC), where it is the official currency of the government, state-sponsored cryptocurrency decided that its plan to offer citizenship, land and precious metals to investors who purchased the unit for $60,000 from Sango Coin was unconstitutional.

Central African Republic Adopts Bitcoin As Its Official Currency, Court Denies Citizenship To Buyers Of Cryptocurrency

According to the report, the court said granting citizenship was unconstitutional “given that citizenship cannot have a market value”.

A spokesperson for the president told Bloomberg that they are looking for other ways to offer land and citizenship to Sango Coin investors.

The Central African Republic became the first country in Africa and the second in the world after El Salvador to accept Bitcoin as an official means of payment.

The poor African country is trying to develop its economy by becoming a cryptocurrency center in the region.

The country, which attracted the world’s attention by making Bitcoin a legal payment instrument, was visited by the CEO of the world’s largest cryptocurrency exchange Binance for this reason.

However, in El Salvador, the first country in the world to declare BTC as its official currency, the public showed an intense reaction to this decision in the first place.

Bitcoin ATMs were burned in the country, and the country’s opposition also expressed their reactions to this decision.

El Salvador’s president, Nayib Bukele, shared with his followers on Twitter that he had bought BTC for a period of time.

Considering that a significant part of the country’s economy consists of the money sent to the country by the citizens of El Salvador living in the USA, it is not unreasonable to accept BTC as a payment method.

*Not investment advice.