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The President of the Central African Republic (CAR), Faustin-Archange Touadéra, recently said his government had set up a 15-member committee tasked with creating a comprehensive legal framework governing the use of cryptocurrencies. According to an official document issued by the CAR cabinet, the committee has started work and will routinely update the government.
CAR ambitions
The leader of the Central African Republic (CAR), Faustin-Archange Touadéra, recently revealed that his country has set up a committee that is expected to draft a bill on the use of cryptocurrencies. The committee, which consists of 15 experts drawn from various government ministries, is expected to create a legal framework that helps CAR achieve its goal of becoming a globally recognized country embracing blockchain technology.
15 experts #central africa from several government ministries I formed a committee responsible for drafting a new, more comprehensive law on the use of cryptocurrencies and offering CARs this unique opportunity for economic & technological development pic.twitter.com/bZTS8HQxH3
— Faustin-Archange Touadera (@FA_Touadera) January 20, 2023
in a renew Issued via Twitter, President Touadéra, whose country became the first African nation to adopt bitcoin, also shared a communiqué outlining his country’s vision as well as the various government ministries that have seconded experts to the committee.
“15 experts from several ministries of my government formed a committee responsible for drawing up new, more comprehensive laws on the use of cryptocurrencies and offering CARs this unique opportunity for economic & technological development,” President Touadéra said in a recent tweet.
The CAR leader’s latest statement comes just weeks after the team promoting his country’s crypto token known as sango coin announced the delay of the coin’s scheduled listing. As Bitcoin.com News reports, the delay was triggered by what the team calls “current market conditions”.
Prior to being forced to suspend coin registration, Touadéra’s government coin offering suffered a major setback after a constitutional court ruled that the proposal to grant holders of sango citizenship was illegal.
However, despite these setbacks, the CAR’s leading government has vowed to continue its work. Meanwhile, in a communiqué, the CAR government said the committee had been working and would routinely issue progress updates.
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