“It is really important to not see such things as a panacea for the challenges that countries face,” Selassie said.
The IMF chief, however, argued that in a case where there tends to be cryptocurrency adoption, there needs to be a robust payment system with governance framework and financial transparency.
Selassie made this statement following the adoption of Bitcoin in the Central African Republic (CAR) as legal tender.
Pulse understands that CAR is the second country in the world to adopt the cryptocurrency after El Salvador did so last year (2021).
Disclosing this development, CAR President Faustin Archange Touadera stated that the Bitcoin adoption has placed CAR, which is one of the poorest countries and the most-troubled nations in the world, on a global map as the globe’s boldest and most visionary country.
Meanwhile, following the adoption of Bitcoin in CAR, the value of the digital asset increased by 1.96% to about $39,782.
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