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The President of the Central African Republic (CAR), Faustin-Archange Touadéra, 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 Touadéra, recently revealed that his country has set up a committee which should 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.

In a to update Posted via Twitter, President Touadéra, whose country became 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 Touadera in a recent tweet.

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

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

However, despite these setbacks, the CAR leader’s government 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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