Central African Republic Sets Up Committee To Draft Cryptocurrency Law – Africa Bitcoin News

The President of the Central African Republic (CAR), Faustin-Archange Touadéra, recently said that his government has set up a 15-member committee tasked with creating a comprehensive legal framework regulating the use of cryptocurrencies. According to an official document released by the CAR cabinet, the committee has already started its work and will update the government on a regular basis.

CAR’s ambitions

The leader of the Central African Republic (CAR), Faustin-Archange Touadéra, recently revealed 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 various government ministries, is expected to create a legal framework that helps CAR achieve its goal of becoming a globally recognized blockchain technology embracing country.

In a update Released via Twitter, President Touadéra, whose country became the first African state to adopt bitcoin, also shared a communiqué outlining his country’s vision, as well as the various government ministries that seconded experts to the committee.

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

The CAR leader’s latest remarks come just weeks after a team promoting his country’s crypto token known as sango coin announced the postponement of the coin’s scheduled listing. As reported by Bitcoin.com News, the postponement was motivated by what the team called “current market conditions.”

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

However, despite these setbacks, the Central African Republic leader’s government has vowed to move forward with its work. Meanwhile, the CAR government said in the statement that the committee is already working and will issue regular progress updates.

Register your email here to receive a weekly African news update sent to your inbox:

What do you think of this story? Let us know what you think in the comments section below.

Terence Zimwara

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

Image credits:Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, nor 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 damages or losses caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned in this article.

Add a Comment

Your email address will not be published. Required fields are marked *