A Slew of Good News for Bitcoin and Other Crypto

Lawmakers in Panama's National Assembly on April 28 approved a major bill to regulate the use and commercialization of crypto assets in the Central American country, Reuters reported.

The country's National Assembly unanimously passed the bill, allowing President Faustin-Archange Touadera to sign it into law.

The country will use bitcoin as the national currency along with the Central African CFA franc, a regional currency governed by the Bank of Central African States (BEAC). 

It's also used in six African countries: Cameroon, Chad, Congo, Equatorial Guinea, and Gabon.

The decision makes Central African Republic the first country in Africa to back bitcoin and the second in the world, following El Salvador, which adopted bitcoin as legal tender last year.

In addition, the Cuban central bank issued regulations on April 26 for virtual asset service providers

The bill opens the door to private and public use of such assets and will make it possible for people to pay their taxes with cryptocurrencies.

"It’s truly amazing to see how far #btc has come is such a short amount of time," one person said on Twitter. "The world is waking up to the vast potential of #bitcoin."

"The narrative shift from 'it's not legal tender' to 'it's bad legal tender' is already happening," one person tweeted. 

"Only 11% of people in the Central African Republic have access to the internet. Soon enough, the IMF will publish a paper on the failed adoption of #Bitcoin in these states."

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