Crypto

Central African Republic Establishes Committee Tasked With Drafting Crypto Law – Africa Bitcoin News

Central African Republic (CAR) President 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 CAR cabinet document, the committee has already started its work and will keep the government regularly updated.

CAR’s ambitions

Central African Republic (CAR) leader Faustin-Archange Touadéra recently announced that his country has set up a committee that is expected to draft a bill on the use of cryptocurrencies. The committee, made up of 15 experts from different government ministries, aims to create a legal framework that will help Central African Republic achieve its goal of becoming a globally recognized country using blockchain technology.

in a (n To update President Touadéra, whose country became the first African state to adopt Bitcoin, also shared a communiqué via Twitter outlining his country’s vision as well as the various government ministries that have sent experts to the committee.

“15 experts from several ministries of my government form the committee responsible for drafting a new, broader bill on the use of cryptocurrencies, offering CAR this unique opportunity for economic and technological development,” President Touadéra said in a recent tweet.

The CAR leader’s latest comments come just weeks after a team promoting his country’s crypto token known as the Sango coin announced the postponement of the coin’s planned listing. As reported by Bitcoin.com News, the move was prompted by what the team described as “current market conditions.”

Before the Touadéra government’s coin offering was forced to postpone the coin’s listing, it suffered a major setback after a constitutional court ruled that the proposal to grant citizenship to sango coin holders was illegal.

Despite these setbacks, however, the CAR leader’s government has vowed to get on with its work. Meanwhile, the CAR government said in the communiqué that the committee is already at work and will issue regular updates on progress.

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Terence Zimwara

Terence Zimwara is an award-winning Zimbabwean journalist, author and writer. He has written extensively on the economic woes of some African countries, as well as how digital currencies can provide an escape route for Africans.







photo credit: Shutterstock, Pixabay, WikiCommons

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