• December 5, 2023


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The Central African Republic to Develop a Crypto Regulation

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The authorities of the Central African Republic (CAR) have announced they plan to develop a legal framework for legalizing digital assets and accelerating the development of the national economy, the president of the country, Faustin-Archange Touadera, has said.

In order to implement the initiative, a special committee has been created. It will be responsible for developing a bill on the use of cryptocurrencies and tokenization in the country. It included 15 specialists from five CAR ministries.

Touadera has explained:

“With access to cryptocurrencies, the existing monetary barriers so far will disappear. The main goal of the measures taken by the government is the development of the national economy.”

The Central African Republic recognized BTC as a means of payment in April last year along with the local franc and became the second country in the world to legalize Bitcoin.