CAR's Crypto Ventures: Foreign Benefits, National Risks
Update: 2025-12-17
Description
The Central African Republics cryptocurrency ventures, initiated under President Faustin-Archange Touadéra, are under scrutiny. The Sango Coin, launched in 2022, promised incentives to foreign investors but faced legal challenges and opposition. The government pressed ahead with plans for a crypto city and crypto island, but these projects never materialized. In 2023, a law was passed allowing the tokenization of natural resources, raising concerns about money laundering and national sovereignty. The launch of the CAR meme coin in 2025, framed as an experiment for national development, has been criticized for its high potential for manipulation and lack of transparency. The report concludes that the legal framework and enforcement mechanisms in the CAR are insufficient to prevent financial crimes through cryptocurrency.
The Daily News Now! — Every city. Every story. AI-powered.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
x
