Central African Republic Starts Developing a Legal Framework for Crypto

The Central African Republic (CAR) has set up a 15-member committee to draft a bill on the use of cryptocurrencies and tokenisation in the country. The committee responsible for drafting the crypto bill comprises 15 experts from five ministries of CAR. The members are tasked with developing a legal framework that will allow cryptocurrencies to operate in the CAR and expedite the development of the national economy. According to the CAR’s president, cryptocurrencies have the potential to help eradicate the country’s financial barriers. The intention is to create a business-friendly environment supported by a legal framework for cryptocurrency usage. The official press-release states that with access to cryptocurrencies, the existing monetary barriers will disappear and that the main objective of the measures adopted by the government is the development of the national economy.

Sources: https://cutt.ly/S9AOP25

CH-019948 (Webpage Portal) 2023-02-03 (Published) 2023-02-03 (Updated)