President Faustin-Archange Touadéra of the Central African Republic (CAR) has declared the formation of a 15-member panel tasked with devising a comprehensive legal structure for cryptocurrencies.
Realizing CAR’s Ambitions
Recently, the leader of the Central African Republic (CAR) Faustin-Archange Touadéra announced the formation of a committee tasked with developing a law on the usage of cryptocurrencies. This committee, made up of 15 experts from various government ministries, is expected to create a legal framework to assist the Central African Republic in achieving its goal of becoming a recognized blockchain adopter.
15 specialists #centralafrica issus de plusieurs ministères de mon gouvernement compose le comité chargé d’élaborer un nouveau projet de loi plus complet sur l’utilisation des crypto-monnaies et d’offrir à la RCA cette distinctive alternative de développement économique & technologique pic.twitter.com/bZTS8HQxH3
— Faustin-Archange Touadera (@FA_Touadera) January 20, 2023
In a recent tweet, President Touadéra shared a statement outlining his nation’s vision, as well as the various government departments that have contributed experts to the committee.
“15 specialists from numerous ministries of my government make up the committee responsible for drafting a new, more comprehensive bill on the use of cryptocurrencies and offering CAR this unique opportunity for economic and technological development,” President Touadéra stated in his tweet.
The recent comments from the CAR leader comes shortly after the sale of his nation’s crypto token, known as the sango coins, resulted in the postponement of the coin’s listing. As reported by Bitcoin.com News, the crew referred to as it “workforce” and the postponement was initiated as a result of “present market situations.”
Prior to being forced to delay listing the coin, the Touadéra administration’s coin offering suffered a major setback after a constitutional court ruled that the proposal to grant sango coin holders citizenship was illegal.
Nevertheless, despite these setbacks the CAR leader has vowed that he will continue his efforts. In the statement, the Central African Republic government noted that the committee was already in operation and will provide updates about progress.
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