Central African Republic Sets Up Committee to Draft Crypto Bill – Africa Bitcoin News

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The President of the Central African Republic (CAR), Faustin-Archange Touadra, recently said that his government has set up a 15-member committee to create a comprehensive legal framework governing the use of cryptocurrencies. According to an official document published by the CAR cabinet, the committee has already started its work and will regularly inform the government.

The ambitions of the CAR

The leader of the Central African Republic (CAR), Faustin-Archange Touadra, recently revealed that his country has set up a committee that is expected to draft a bill on the use of cryptocurrencies. The committee, which is made up of 15 experts from various government departments, is expected to create a legal framework that helps CAR achieve its goal of becoming a globally recognized country that embraces blockchain technology.

15 #Central African experts from several ministries of my government make up the committee responsible for drafting a new, more comprehensive bill on the use of crypto-currencies and offering the CAR this unique opportunity for economic & technological development pic.twitter .com/bZTS8HQxH3

– Faustin-Archange Touadra (@FA_Touadera) January 20, 2023

In an update posted via Twitter, President Touadra, whose country has become the first African state to adopt bitcoin, also shared a statement outlining his country’s vision as well as the various ministries that have seconded experts to the committee.

“15 experts from several ministries of my government make up the committee tasked with drafting a new, more comprehensive bill on the use of cryptocurrencies and providing CAR with this unique opportunity for economic and technological development,” said the President Touadra in a recent tweet.

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

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

However, despite these setbacks, the government of Central African leaders is committed to continuing its work. Meanwhile, in the statement, the Central African government said the committee is already at work and will issue regular updates on progress.

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Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic issues of some African countries as well as how digital currencies can provide an escape route for Africans.

Image credits: Shutterstock, Pixabay, Wiki Commons

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