Asset tokenization has been in the works for a year. The ambitious project has also included investor citizenship and an island in the metaverse.
Central African Republic News
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The International Monetary Fund projects 2.2% GDP growth and manageable debt, but warns of liquidity risks.
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The project has marketed Sango Coin to interested parties by offering pathways to CAR citizenship through investments.
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A 15-member committee is 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.
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Filmmakers are interested in documenting one of this year’s weirdest stories in crypto, but what else made the list?
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As the first country to adopt Bitcoin as legal tender in Africa, the Central African Republic appears to be struggling with its investor-oriented token, Sango Coin.
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Cointelegraph asked Bitcoiners at the Plan B conference in Lugano why the white paper matters now more than ever.
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The move comes one month after the CAR rolled out the new incentive to boost crypto innovation in the country.
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The Central African Republic, one of the nations served by the Bank of Central African States, passed legislation adopting Bitcoin as legal tender in April.
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Central African Republic President Faustin-Archange Touadera outlined that the Sango crypto hub project will foster financial inclusion by removing the barriers to entry in the banking sector.
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The Sango project’s plans include building a "legal crypto hub," expanding the adoption of Bitcoin, and creating a “crypto island” — a special economic zone in the metaverse.
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The World Bank has said “it will be physically impossible” for the lender to fund the planned Sango crypto hub and voiced concerns regarding the country’s adoption of Bitcoin.
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The Central African Republic prepares to launch its first major crypto hub shortly after the National Assembly adopted Bitcoin as legal tender.
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