{"id":4414,"date":"2022-05-25T09:28:59","date_gmt":"2022-05-25T09:28:59","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=4414"},"modified":"2022-05-25T09:28:59","modified_gmt":"2022-05-25T09:28:59","slug":"central-african-republic-wants-to-launch-africas-first-legal-bitcoin-investment-platform","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=4414","title":{"rendered":"Central African Republic wants to launch Africa\u2019s first legal Bitcoin investment platform"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/> \ud83d\udc4b Want to work with us? CryptoSlate is hiring for a handful of positions!<\/p>\n<p style=\"font-weight: 400;\">According to an announcement on the country\u2019s official Facebook page, the Central African Republic (CAR) is set to launch a cryptocurrency investment hub.\u00a0<\/p>\n<p style=\"font-weight: 400;\">The post revealed that the project would be known as \u201cSango.\u201d According to the statement, President Faustin-Archange Touadera said<\/p>\n<p>\u201cThe formal economy is no longer an option. An impenetrable bureaucracy is keeping us stuck in systems that do not give a chance to be competitive.\u201d<\/p>\n<p style=\"font-weight: 400;\">President Touadera had hinted about the project on May 21 when he tweeted that \u201cvery soon we will announce the next planned phase\u201d with the hashtag #Bitcoin.<\/p>\n<p lang=\"en\" dir=\"ltr\">As a nation, we aim for a bright #future with #peace &amp; #stability for our next generations. Today marks a month since we\u2019ve started on this path. Other important #news will follow. Very soon we will announce the next planned phase.#Bitcoin #crypto #CAR #RCA<\/p>\n<p>\u2014 Faustin-Archange Touad\u00e9ra (@FA_Touadera) May 21, 2022<\/p>\n<p style=\"font-weight: 400;\">The Facebook post included a link to the landing page for sango.org, where visitors can register for the waitlist. Those who register for the waitlist will get a link to a 24-page presentation.<\/p>\n<h2>Central African Republic has huge Bitcoin plans<\/h2>\n<p style=\"font-weight: 400;\">The document includes additional information about the project\u2019s objectives, including building the first legal CryptoHub in Africa, taking Bitcoin Legacy to the next level, and Sango \u2013 The Crypto Island.<\/p>\n<p lang=\"en\" dir=\"ltr\">Following the unanimously adoption by the National Assembly of the #BTC legal tender status, we are pleased to showcase the first concrete initiative! It goes beyond politics&amp;administration &amp; has the potential to reshape #CAR\u2019s financial system! #bitcoinhttps:\/\/t.co\/1oxLHOen6q<\/p>\n<p>\u2014 Faustin-Archange Touad\u00e9ra (@FA_Touadera) May 24, 2022<\/p>\n<p style=\"font-weight: 400;\">Additionally, it plans to establish a Digital Nation Bank, develop a crypto wallet, and facilitate land purchases using Bitcoin. Crypto firms will also have access to the natural resources in the country, and there will be a \u201ccitizenship by investment\u201d program with zero taxes to encourage foreign investors.<\/p>\n<p style=\"font-weight: 400;\">The new plan comes a month after the Central African Republic announced making Bitcoin a legal tender. This made it the second country after El Salvador to take that step.\u00a0<\/p>\n<h2>International community does not support CAR\u2019s Bitcoin decision<\/h2>\n<p style=\"font-weight: 400;\">Several stakeholders have expressed concerns about the country Bitcoin\u2019s decision. Analysts believe that there are significant barriers to Bitcoin adoption in the country.<\/p>\n<p style=\"font-weight: 400;\">The Central African Republic is one of the least developed countries in the world. It is ranked 188 out of 189 on the United Nations Human Development Index. Only 11% and 14% of its residents have access to the internet and electricity.<\/p>\n<p style=\"font-weight: 400;\">Some residents have also expressed their surprise at the government\u2019s adoption, as most are unfamiliar with crypto. <\/p>\n<p style=\"font-weight: 400;\">Although the government said that the National Assembly passed the bill making Bitcoin a legal tender unanimously, there are claims that many opposition lawmakers abstained from the votes.<\/p>\n<p style=\"font-weight: 400;\">The International Monetary Fund has also called for caution. IMF Africa Department Director Abebe Aemro Selassie said,\u00a0<\/p>\n<p style=\"font-weight: 400;\"><strong>\u201cIt\u2019s really important to not see such things as a panacea for economic challenges our countries face.\u201d<\/strong><\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/central-african-republic-wants-to-launch-africas-first-legal-bitcoin-investment-platform\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udc4b Want to work with us? CryptoSlate is hiring for a handful of positions! According to an announcement on the country\u2019s official Facebook page, the Central African Republic (CAR) is set to launch a cryptocurrency investment hub.\u00a0 The post revealed that the project would be known as \u201cSango.\u201d According to the statement, President Faustin-Archange Touadera [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-4414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4414"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4414\/revisions"}],"predecessor-version":[{"id":4416,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4414\/revisions\/4416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/4415"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}