According to CAR leader Faustin-Archange Touadéra, the Central African Republic (CAR) has set up a committee to draft a bill on the use of cryptocurrencies. The committee, comprising of 15 experts from various government ministries, aims to create a legal framework that will help the CAR become a globally recognized blockchain technology-embracing country.
Touadéra, whose country became the first African state to adopt bitcoin, also shared a communique outlining the country’s vision and the government ministries that have seconded experts to the committee.
In a recent tweet, Touadéra said
“15 experts from several 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 & technological development.”
The committee is already at work and will regularly issue progress updates, despite the setbacks the CAR government has suffered. A team promoting the country’s crypto token, the sango coin, announced the postponement of the coin’s scheduled listing due to “current market conditions.” Additionally, the CAR’s proposal to grant citizenship to sango coin holders was ruled illegal by a constitutional court.
