Central African Republic looks for framework for crypto adoption
A 15-person committee was established by the Central African Republic (CAR), a developing nation in the region, to draught legislation governing the use of cryptocurrencies and tokenisation there, as reported by Cointelegraph.
Cointelegraph further noted that by using cryptocurrencies, the country’s financial barriers may be eliminated, claims CAR president Faustin-Archange Touadéra. He supported the development of a business-friendly environment and a regulatory framework for the use of cryptocurrencies. The official press release’s rough translation is as follows, “With access to cryptocurrencies, the monetary barriers existing until now will disappear, the main objective of the measures adopted by the government being the development of the national economy.”
15 experts from five CAR ministries—the Ministry of Mines and Geology, the Ministry of Waters, Forest, Hunting and Fishing, the Ministry of Agriculture and Rural Development, the Ministry of Town Planning, Land Reform, Towns and Housing, and the Ministry of Justice, Promotion of Human Rights and Good Governance—make up the committee charged with drafting the crypto bill.
Cointelegraph further noted that after two years of waiting for approval from regulatory bodies, the Nigerian cryptocurrency exchange Roqqu obtained a virtual currency licence for the European Economic Area, marking another milestone for crypto initiatives from the African continent.
(With insights from Cointelegraph)
