He argues that the law works to undermine the CFA franc, the country's currency. "This move raises the question: who benefits from it?" However, the new bill has its detractors. Former prime minister Martin Ziguele, who is now a member of the opposition, raised concerns that the law was passed "by proclamation," and some legislators plan to fight it in Constitutional Court. "It [the law] isn't a priority for the country," he said, per the AFP. According to a report from the Brookings Institute, among African countries, Nigeria, Kenya and South Africa have growing cryptocurrency markets, and Central African Republic is joining the race. As digital currency expands its global reach, there are discussions about how to keep these assets safe and issues about storage, taxes and regulations.
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Also, since the trades have not been executed, the results may have under — or over — compensated for the impact, if any, of certain market factors, such as lack of liquidity. The Central African Republic has adopted bitcoin as legal tender, making it the second nation in the world -- after El Salvador -- to do so. On Wednesday, President Faustin Archange Touadera's office released a statement announcing that the measure is now law. Merlin integrates risk-averse investment strategies and crypto trade bot
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To secure and protect the user's investments, Merlin's risk management system understands and reads the market in real time to initiate pump and dump protection, stop loss, rebuys, and work with different trend detection filters to stop the users from making risky investments. Keep fixing the ratio of the position of an investment target held to the total position. When the value of this investment target exceed an established threshold, sell part of the target to keep the ratio.
Through continuous adjustment, the tartget ratio has been maintained at a fixed value to keep dynamic balancing. Strategy description The strategy based on the spot average position is essentially a simplified version of the grid strategy. When the value of this investment target become under than the established threshold, buy back part of the target to keep the ratio. Touadera's chief of staff, Obed Namsio, noted that the Central African Republic is the first country on the continent to adopt bitcoin as legal currency.
According to the bill, the use of bitcoin and other cryptocurrencies in transactions is a legal form of payment along with the CFA franc. "This move places the Central African Republic on the map of the world's boldest and most visionary countries," he said, according to a report from the Agence France-Presse.