Bitcoin, Sango Coin and tokenization: the Central African Republic continues to bet on cryptos

Unity, Dignity, Work… and crypto! – The currency of the Central African Republic could actually be completed like this as this small country ofAfrica central grows strong in the future tokenized. Despite the setback re setting up its Sango Coin, the country continues its reflections. It is even making great strides towards a global use of cryptocurrency in its economy. President Faustin-Archange Touadera is the first to be convinced of the interest of this technology and makes it known. To banguiwe hope to take advantage of “this unique opportunity for economic and technological development”.


The news came from presidency and more precisely of the chief of staff of the president of the Republic. The latter relayed on social networks a communicated release announcing the creation of a committee responsible for creating a regulatory framework on the use of cryptocurrencies in the country. But it is also about imagining how to take advantage of a tokenization of the country’s natural resources.

This working group will consist of fifteen experts from five ministries different concerned by these developments. President Faustin-Archange Touadera did not hide his enthusiasm on Twitter:

“With access to cryptocurrencies, the monetary barriers existing so far will disappear, the main objective of the measures adopted by the government being the development of the national economy. »

The Central African Republic continues to move forward on its cryptocurrency-related projects.  After the legalization of Bitcoin and the launch, admittedly upset, of the Sango Coin, the country has just created a committee to reflect on a new legal framework for cryptocurrencies.
The President of the Central African Republic announces the creation of the Committee – source: Twitter

>> Looking for bold returns for your stablecoins? Register on AscendEX (commercial link) <<

For the Central African Republic: focus on cryptocurrencies

the government decided to move up a gear. And he called upon all the vice forces of the main ministries. Just a few months later the legalization of bitcoin in the country, local authorities are confirming their interest in cryptocurrencies. This is how a local digital currency project, the Sango Coin is currently in the boxes.

Admittedly, the Constitutional Courtnally has so far rejected the project for legal reasons. But the project continues on its way and a schedule should be announcement soon. This small landlocked country is full of natural resources such as gold, uranium and diamonds, and intends to use them to promote its Sango Coin.

The country will face challenges enormous in the years to come. Between the armed conflicts that rage at its cumbersome neighbors and his own political problems internalthe president hopes to use the cryptocurrency to finance the recovery of its economy and highlight the strengths of his country. In doing so, the Central African Republic could become a precursor and join South Korea as pioneers of national policies related to the web3.

Bitcoin and cryptocurrencies are here to stay and will change the landscape of the economy, everyone agrees. On your side, do not delay too much and go sign up on AscendEX. Take advantage of 10% reduction on trading fees (commercial link, see conditions on site).

Last Verdict

To get more updates about the insurance you can follow our website or can bookmark it.

Leave a Reply

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