The Central African Republic (CAR) president, Faustin-Archange Touadéra, recently said his government has established a 15-member committee tasked with creating a comprehensive legal framework that governs the use of cryptocurrencies. According to an official document issued by the CAR cabinet, the committee has already started its work and will regularly update the government.


CAR’s Ambitions

The Central African Republic( CAR) leader, Faustin- Archange Touadéra,  newly revealed that his country has set up a commission that's expected to draft a bill on the use of cryptocurrencies. The committee, which is comprised of 15 experts drawn from varied government ministries, is expected to create a legal framework that helps the CAR achieve its goal of becoming a globally honored blockchain technology-embracing country.

In an update issued via Twitter, President Touadéra, whose country came the first African state to adopt bitcoin, also partook in a communique outlining his country’s vision as well as the varied government ministries that have seconded experts to the committee.

“ 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 chance for economic & technological development, ” President Touadéra said in a recent tweet.

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

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

still, despite these setbacks, the CAR leader’s government has vowed to proceed with its work. Meanwhile, in the communique, the CAR government said the committee is already at work and will regularly issue progress updates.

(Terence Zimwara, Bitcoin.com, 2023)