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Central African Regional Bank Seeks common digital currency: Call for the creation of a common digital currency

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Central African Regional Bank Seeks common digital currency: Call for the creation of a common digital currency
Central African Regional Bank Seeks common digital currency

Central African Regional Bank wants common digital currency: In Bitcoin.com’s inaugural newsletter, which features some of Africa’s biggest crypto and economic news, the head of the African Regional Central Bank appealed to “Herve scars to the bank’s board of directors to introduce a common digital currency.

Central African Regional Bank wants common digital currency

On the other hand, the regional bank warned that bitcoin law in the Central African Republic does not comply with regional laws. Meanwhile, Kenyan activists said cryptocurrencies could create new ways for young people to earn money.

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The president of the African Central Bank calls for the creation of a single digital currency.

Informs the President of the Bank of Central African States (BCAS)” The Board of Directors of the Herv Scars Regional Central Bank stated that it will have to create a common digital currency that will be used by the 6 countries belonging to the Central African Monetary Union (CAMU). It is known that BCAS want to create a common legal framework to regulate crypto as well.

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With traditional funding drying up, Kenyan activists believe cryptocurrencies provide an alternative channel for fundraising.

Raising funds through the sale of cryptocurrencies and non-fungible tokens (NFTs are not only faster, but also less expensive, according to some activists living in Kenya.

Digital currency “has the potential to provide new avenues for young people to earn, spend, save, and transmit money,” according to activists.

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Ghana is the African country with the most default

After seeing Ghana rise to over 29% in June inflation, Ghana becoming West Africa’s second largest economy is now ranked as one of the countries most likely to default this year, according to the latest rankings. has given. Visual Capitalist, Visual Capitalist Weak sovereign debt.

Central El Salvador is the first country to make the currency bitcoin legal.

According to the statistics, it takes over Ghana. Now ranks first in Africa. It is second in the world after the country located in the Americas. Central El Salvador is the first country to make the currency bitcoin legal.

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Also Read: El Salvador Is Betting Its Future On Bitcoin And Cryptocurrencies… Why?

Following Nigeria’s debut of the e-naira in October, several central banks in sub-Saharan Africa are investigating releasing digital currencies or are now in the experimental phase. The first regional bank to launch a virtual currency is the Bank of Central African States, which provides services to Cameroon, Gabon, Chad, the Republic of Congo, Equatorial Guinea, and the Central African Republic.

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