Faustin-Archange Touadéra, the leader of the Central African Republic (CAR), reportedly announced that his government has formed a committee to develop a bill on the usage of cryptocurrencies.
The committee, which is made up of 15 specialists from several government departments, is anticipated to create a legal framework that will assist the CAR in reaching its objective of being a worldwide-known blockchain technology-embracing country.
President Touadéra, whose country was the first in Africa to accept and approach the use of bitcoin, posted a communiqué describing his country’s goal as well as the several government agencies that have assigned specialists to the committee in a Twitter update.
Also read, Central African Republic postpones Sango Coin Listing to Q1 of 2023
In a recent tweet, President Touadéra stated that a group of 15 specialists from many ministries in my cabinet is tasked with crafting a new, more complete bill on the use of cryptocurrency and providing CAR with this exceptional chance for economic and technological progress.
The CAR leader’s recent words came only a few weeks after a team pushing his country’s cryptocurrency known as the sango coin said the coin’s scheduled listing had been postponed.
The team cited “current market conditions” as the reason for the postponement.
Before being obliged to postpone the currency’s listing, the Touadéra government’s coin offering faced a severe setback when a constitutional court decided that the idea to grant sango coin holders citizenship was illegal.
Notwithstanding these obstacles, the CAR leader’s government has pledged to continue its work. However, the Central African Republic government stated in the statement that the committee is already at work and will provide monthly progress updates.
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