The Central African Republic (CAR) has become the center of a hot buzz in the cryptocurrency world amid various reports of it adopting Bitcoin (BTC) quite similar to El Salvador.

However, contrary to popular headlines, the African nation has not adopted BTC as a legal tender, instead, it has reportedly legalized the use of cryptocurrencies in the financial markets.

The new cryptocurrency law would reportedly allow citizens to pay their taxes in Bitcoin or crypto and allow the use of crypto as a form of payment for businesses.

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