Central African Republic president launches crypto initiative following Bitcoin adoption

President of Central African Republic Faustin-Archange Touadéra has announced the CAR government will be launching a crypto initiative. The CAR government plans to launch the Sango initiative during a July 3 event in which the president, members of his cabinet and industry experts will discuss the physical and digital infrastructure needed for the CAR to enter the crypto space. Sango's plans include building a “legal crypto hub” aimed at attracting businesses and global crypto-enthusiasts, expanding the adoption of Bitcoin in the country, and creating a virtual “crypto island” The CAR plans to have a dedicated legal framework for crypto in place by the end of 2022. El Salvador's Bitcoin Law declaring the digital currency legal tender went into effect in September 2021. Source