The CAR’s plans to list the sango coin during the fourth quarter 2022 have been delayed. According to a statement from the team promoting the token, the scheduled unlocking of 5% of token holders’ wallets has also been postponed. The decision to delay the listing of the coin was made due to what the team calls “current market conditions.”
Postponed Scheduled Token Unlock
Eight months after Central African Republic became the first African nation to adopt Bitcoin, the CAR recently stated it will not proceed with the listing of its crypto token “Sango” as scheduled. In a statement released to a sango currency Telegram group, the group promoting the token stated that the decision was based on “current market conditions”.
The CAR team also announced that the planned unlocking of up to 5% of sango holders’ wallets has been postponed. According to information on tokens available on the official Sango Website, the CAR expects to list the coin by the end of 2022.
Just like the decision of the country to make Bitcoin legal tender, the sango currency initiative has been met with a variety of troubles. Chief among these is the apparent lack of interest by investors in the sango currency. The investor interest was additionally dampened by a court ruling declaring the government’s plan to grant citizenship to sango coin holders unconstitutional.
Many bitcoiners, who initially supported the CAR’s decision to make cryptocurrency legal tender, have since questioned the motivations behind the sango coin initiative.
‘Bitcoin Sango Sidechain Testnet’
Despite these setbacks and others, the CAR government continues with the token sale. “Cycle 2” of the sale is expected to begin in the first quarter. As indicated in the token roadmap, the CAR will continue with the “Sango bitcoin sidechain testnet” before launching the so called national mobile phone program.
The CAR government is also planning to grant citizenship to investors who purchase or hold $60,000 worth of sango coins. According to a Telegram moderator, “More updates on this will be made next month.” “.
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