The Central African Republic forms a committee to draft a crypto law

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Faustin-Archange Touadéra, the president of the Central African Republic (CAR), recently declared that his nation has formed a 15-person committee tasked with establishing a thorough legal framework that regulates the usage of cryptocurrencies.

The committee has already begun its work, and it will keep the government informed on a regular basis, according to a formal document released by the CAR cabinet.

Faustin-Archange Touadéra, the president of the Central African Republic (CAR), recently disclosed that his nation has formed a committee to create a law regulating the usage of cryptocurrencies.

The committee, which is made up of 15 specialists from several government departments, is supposed to develop a legal framework that aids the CAR in achieving its objective of being recognized as a country that embraces blockchain technology.

President Touadéra posted a statement explaining his country’s vision as well as the several government agencies that have delegated experts to the committee in a tweet update, making his nation the first African state to adopt bitcoin.

President Touadéra recently tweeted, “15 professionals from several ministries of my government make up the committee responsible for writing a new, more complete bill on the use of cryptocurrencies and providing CAR with this special chance for economic & technological progress.”

The CAR leader’s most recent comments came just a few weeks after a group pushing the sango coin, his nation’s cryptocurrency token, announced that the listing of the coin had been postponed.

The CAR leader’s government has vowed to continue its work despite these setbacks.

The CAR government stated in the communiqué that the committee is already at work and will provide regular updates on its progress.

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