Unity, Dignity, Work… and crypto! – The currency of the Central African Republic could actually be completed like this as this small country ofAfrica central grows strong in the future tokenized. Despite the setback re setting up its Sango Coin, the country continues its reflections. It is even making great strides towards a global use of cryptocurrency in its economy. President Faustin-Archange Touadera is the first to be convinced of the interest of this technology and makes it known. To banguiwe hope to take advantage of “this unique opportunity for economic and technological development”.
Fifteen national experts to define a new legal framework for cryptocurrencies
The news came from presidency and more precisely of the chief of staff of the president of the Republic. The latter relayed on social networks a communicated release announcing the creation of a committee responsible for creating a regulatory framework on the use of cryptocurrencies in the country. But it is also about imagining how to take advantage of a tokenization of the country’s natural resources.
This working group will be made up of fifteen experts from five ministries different concerned by these developments. President Faustin-Archange Touadera did not hide his enthusiasm on Twitter:
“With access to cryptocurrencies, the monetary barriers existing so far will disappear, the main objective of the measures adopted by the government being the development of the national economy. »
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For the Central African Republic: focus on cryptocurrencies
the government decided to move up a gear. And he called upon all the vice forces of the main ministries. Just a few months later the legalization of bitcoin in the country, local authorities are confirming their interest in cryptocurrencies. This is how a local digital currency project, the Sango Coin is currently in the boxes.
Admittedly, the Constitutional Courtnally has so far rejected the project for legal reasons. But the project continues on its way and a schedule should be announced soon. This small landlocked country is full of natural resources such as gold, uranium and diamonds, and intends to use them to promote its Sango Coin.
The country will face challenges enormous in the years to come. Between the armed conflicts that rage at its cumbersome neighbors and his own political problems internalthe president hopes to use the cryptocurrency to finance the recovery of its economy and highlight the strengths of his country. In doing so, the Central African Republic could become a precursor and join South Korea as pioneers of national policies related to the web3.
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