CAR authorities confirm plans to create a crypto hub in the country

In the spring of 2022, the authorities of the Central African Republic announced their intention to create conditions for the development of a business focused on the digital currency market.

Last week, CAR President Faustin-Archange Touadère confirmed that his government is not abandoning plans to create a crypto hub. In addition, the head of state announced the introduction of legislation designed to ensure control over digital assets.

Experts from several ministries will create an appropriate legal framework. This list includes departments responsible for the development of agriculture, mining, resources and urban planning.

The government wants not only to allow the use of cryptocurrencies, but also to weaken the administrative influence on blockchain startups that are registered in the Central African jurisdiction and contribute to the growth of its economy.

Faustin-Archange Touadère tweeted:

15 Central African experts from several ministries of my government are on a committee tasked with developing a new bill on the use of cryptocurrencies and providing the CAR with opportunities for economic and technological development.

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