Report: Constitutional Court Says Central African Republic’s Sango-Coin-for-C...
A constitutional court in the Central African Republic has reportedly ruled that the Touadéra government’s offer of land and citizenship to buyers of the sango coin is unconstitutional. The court said the sango-coin-for-citizenship scheme must be stopped because the country’s “nationality has no market value.” Offering Land and Minerals to Sango Coin Investors Ruled Unconstitutional In a ruling likely to derail the Central African Republic (CAR)’s crypto ambitions, a constitutional court has ruled that the government’s plan to offer....
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The move comes one month after the CAR rolled out the new incentive to boost crypto innovation in the country. According to Reuters, the Constitutional Court of the Central African Republic (CAR) said on Monday that the purchase of citizenship, e-residency and land using its government-backed Sango digital currency is unconstitutional because a nationality has no market value. Earlier in July, the CAR unveiled its Sango crypto hub to attract global crypto talent and enthusiasts, boost Bitcoin (BTC) adoption and implement new crypto regulatory frameworks. The Sango blockchain is built on....
According to Central African Republic President Faustin-Archange Touadéra, his country’s launch of the “Sango coin” currency, as well as the call for the creation of a common digital currency by the regional central bank, represent two key achievements for his country and all of Africa. President Touadéra also said “Sango is the future of our country” and that his government supports “bitcoin and blockchain adoption at a national level.” ‘Not an Easy Road’ The Central African Republic’s (CAR) president,....
The sale of the Central African Republic (CAR)’s 210,000,000 Sango coins is set to begin on July 25 and participating investors will have to buy tokens worth at least $500. In return for buying and locking in the Sango coins, investors will gain citizenship and a piece of real estate property as well as a location in the metaverse.
First Digital Monetary System
The Central African Republic (CAR), the only African country to designate bitcoin legal tender, will begin selling the Sango coin for an equivalent of $0.10 starting July 25. However, another report says the sale....
Last month, the Central African Republic surprised the world by making bitcoin legal tender. As it happened with El Salvador, Bitcoiners from around the world jumped to support the project. On May 22nd, a French-speaking bitcoin-heavy delegation of sorts landed in Bangui, the Central African Republic’s capital. Why were they there? To talk bitcoin, that’s […]
As it turns out, it’s a Bitcoin Law after all. The full text from the Central African Republic’s law that makes bitcoin legal tender is finally out, clearing all kinds of doubts and questions that the world had. And creating new ones. Bitcoinist already told you most of the things you had to know about […]