The President of the Central African Republic (CAR), Faustin-Archange Touadéra, recently said that his government has set up a 15-member committee to create a comprehensive legal framework governing the use of cryptocurrencies. According to an official document published by the CAR cabinet, the committee has already started its work and will regularly inform the government.
The ambitions of the CAR
The leader of the Central African Republic (CAR), Faustin-Archange Touadéra, recently revealed that his country has set up a committee which should draft a bill on the use of cryptocurrencies. The committee, which is made up of 15 experts from various ministries, is expected to create a legal framework that helps CAR achieve its goal of becoming a globally recognized country in blockchain technology.
15 specialists #central africans from several ministries of my government composing the committee responsible for drafting a new, more comprehensive bill on the use of cryptocurrencies and offering CAR this unique opportunity for economic & technological development pic.twitter.com/bZTS8HQxH3
– Faustin-Archange Touadera (@FA_Touadera) January 20, 2023
In a to update Posted via Twitter, President Touadéra, whose country became the first African state to adopt bitcoin, also shared a statement outlining his country’s vision as well as the various ministries that have seconded experts to the committee.
“15 experts from several ministries of my government make up the committee tasked with drafting a new, more comprehensive bill on the use of cryptocurrencies and providing CAR with this unique opportunity for economic and technological development,” said the President Touadera in a recent tweet.
The CAR leader’s latest remarks 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 postponement was prompted by what the team called “current market conditions.”
Before being forced to delay the coin’s listing, the Touadera government’s coin supply suffered a major setback after a constitutional court ruled that the proposal to grant citizenship to holders of Sango coins was illegal.
However, despite these setbacks, the CAR leader’s government is committed to continuing its work. Meanwhile, in the statement, the Central African government said the committee is already at work and will issue regular updates on progress.
Register your email here to receive a weekly African news update delivered to your inbox:
What are your thoughts on this story? Let us know what you think in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
