It’s Official: A Second Country Has Made Bitcoin Legal Tender

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 28 April 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. It’s another global crypto adoption and regulation roundup, led by confirmation that the Central African Republic is moving to make bitcoin legal tender, alongside the CFA franc. NLW looks at why this is significant in a historical, postcolonial context. The show also covers legislation moving ahead in Brazil, a Buenos Aires initiative that will allow residents to pay taxes in crypto, Fort Worth, Texas, becoming the first U.S. city to mine bitcoin and the N.Y. State Assembly passing a two-year new fossil fuel-based mining moratorium. - From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Andriy Onufriyenko/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	even if this is an opportunistic move that is more about trying to move away from the CFA
0:06.0	franc than trying to move towards Bitcoin. The fact that Bitcoin exists and is a tool for
0:11.7	that attempt to gain more monetary independence is in and of itself powerful.
0:17.8	Welcome back to The Breakdown with me, NLW.
0:22.0	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:27.8	The breakdown is sponsored by nexus.io, Arculus, and FTX, and produced and distributed by CoinDesk.
0:35.7	What's going on, guys? It is Wednesday, April 27th, and today we are talking about the
0:41.7	Second Nation to officially make Bitcoin legal tender. Now, a couple quick notes before we get into
0:47.7	that. First, you know the spiel. Give the pod some love wherever you listen to it. And if you
0:52.1	want to get into the conversation, join us on the
0:54.4	Discord. It's truly an awesome community and I'd love to see you there. But second, if you have not
0:59.9	yet registered for CoinDesk's consensus event, I sincerely suggest you do. It's happening between
1:06.1	June 9th and the 12th in Austin, Texas and is the event that covers the full spectrum of what this
1:12.4	industry has to offer from Bitcoin to blockchain to Web 3 to Metaverse to all these
1:17.1	different buzzwords. It's for new people, old people, and everyone in between. What's more,
1:22.7	they just announced that Bologi Shrinivasan has been added and you know he always has something interesting
1:28.0	to say. If you do want to register, use code breakdown to get 15% off your pass, and you can do that
1:34.7	at coin desk.com slash consensus 2022. All right. So today we have an absolute flurry of jurisdictional
1:42.5	engagement with Bitcoin and crypto. It is just so clear
1:46.5	that this is one of the biggest themes, if not the biggest theme for the industry this year.
1:51.6	Governments from city to the nation-state level and even beyond are taking this technology
1:56.7	seriously, grappling with how to fit it into public policy regimes and figuring out if it needs
	...

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