The president of the Central African Republic has stated that cryptocurrencies can potentially help eradicate the country’s financial barriers. He believed in creating a business-friendly environment supported by a legal framework for cryptocurrency usage.
A 15-member committee was setup and is responsible for drafting a bill on the use of cryptocurrencies and tokenization in the region. The committee responsible for drafting the crypto bill comprises of experts from five ministries of CAR Ministry of Mines and Geology, Ministry of Waters, Forest, Hunting and Fishing, Ministry of Agriculture and Rural Development, Ministry of Town Planning, Land Reform, Towns and Housing and Ministry of Justice, Promotion of Human Rights and Good Governance.
Through collaboration, the members are tasked with working on a legal framework that will allow cryptocurrencies to operate in Central African Republic and expedite the development of the national economy.
Crypto initiatives from the African continent marked another milestone as Nigerian crypto exchange Roqqu bagged a virtual currency license for the European Economic Area after two years of waiting for permission from regulatory authorities.
