Cryptocurrencies status in the CAR

The authorities of the Central African Republic (CAR) will develop a legal framework to legalize digital assets and accelerate the development of the national economy. The President of the CAR Faustin-Arshange Touadera reported this.

A special committee responsible for drafting a bill on the use of cryptocurrencies and tokenization in the country has been created to implement this initiative. It includes 15 specialists from five ministries of the CAR.

The CAR recognized the first cryptocurrency as a means of payment on a par with the local currency back in April 2022. The country became the second in the world to legalize bitcoin.
And in July, the authorities launched the national digital currency Sango Coin.

“With access to cryptocurrencies, the monetary barriers that still exist will disappear. The main goal of the measures taken by the government is the development of the national economy,” tweeted President Touadera.