On February 10th, the Central African Republic surprised many by launching their own cryptocurrency, known as CAR, which gained a lot of attention quickly.
This announcement was made on President Faustin-Archange Touadéra’s official X account and he described the project as an experiment to bring people together, support national development, and bring global attention towards the Central African Republic.
Touadéra also mentioned the country’s past support for cryptocurrency, as he was the second world leader to accept Bitcoin as legal tender.
While the initial announcement caused the value of the CAR token to soar, concerns have since been raised after warnings about the use of deepfake technology and the sudden removal of the project’s website. These factors have cast doubt on the legitimacy of the government’s involvement with the project.
