The International Monetary Fund (IMF) believes the Central African Republic's (CAR) adoption of Bitcoin as legal tender is fraught with problems for both the country and the region, Bloomberg has reported.
According to the IMF, the legalization of Bitcoin in the country, which is the second in the world to make the cryptocurrency legal tender after following the example of El Salvador, poses problems "in the field of law, economic policy and transparency."
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The institution is reportedly working with the country's authorities to find solutions to these problems.
Central African Republic has recently approved Bitcoin as a means of payment alongside the local franc.
Last year it was El Salvador that passed a law making Bitcoin legal tender in the country.
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