Fri. May 24th, 2024

The central African Republic Requests Regional Central Bank’s Assistance in Crafting Crypto Regulations

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A recent report has that the Central African Republic is seeking the assistance of the regional central bank in the drafting of the crypto regulations of the country. 

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Following some misunderstanding between the Central African Republic (CAR) and the Bank of Central African States (BCAS) over its decision to make bitcoin a legal tender, BCAS has now claimed the government of Bangui is seeking its assistance in developing the “regulatory framework governing crypto assets”. 

Read Also: Central African Republic Token (Sango Coin) Sale Records Low Turnover.

BCAS, serves six countries that make up the Economic and Monetary Community of Central Africa (EMCCA). Early before now, the misunderstanding between both parties concerning making bitcoin a legal tender which BCAS was against didn’t yield any result since CAR went on to launch its Samgo Coin project.

Since both parties seem to be working together with the progress of Sango Coin so far, it may seem that more member countries will be following in the footsteps of CAR to make Bitcoin a legal tender.

Remember, DiutoCoinNews previously reported, that the International Monetary Fund (IMF) warned the CAR’s leadership against making bitcoin legal tender. But CAR had largely ignored the warnings and launched its Sango Crypto City projected with a coin known as Sango Coin.

Per the Business in Cameron report, the announcement of the BCAS rapprochement with President Faustin-Archange Touadéra’s government was made after a meeting of the Central African Monetary Union (CAMU)’s ministerial committee on July 21.

The report also added that Herve Ndoba and the CAR’s Minister of Finance and Budget had both signed the statement that signalled the two parties’ commitment to work together again.

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By Tony Chimdiuto

Diutocoinnews Admin. Send all publications to

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