The Central African Republic appoints a committee to design crypto legislation

The Central African Republic appoints a committee to design crypto legislation

one of the poorest countries - the Central African Republic (Tsar) - has formed a team of 15 authorities, the task of which will be to design a "comprehensive" cryptocurrency law.

The nation made headlines last year and, after El Salvador, became the second that Bitcoin accepted as a legal means of payment.

another crypto step

Faustin-Archange Touadéra-President of the Central African Republic (Tsar)-announced that the government used a committee from 15 experts to design a corresponding regulatory framework for cryptocurrencies. The draft law should promote the development of the digital asset industry and possibly support the disabled local economy.

15 experts #Zentrafrikains Issus de Plusieurs Ministères de Mon Governement Composent Le Comité D’ élaborer Un Nouveau Project de Loi Plus Complete Sur L’Utilization of Crypto-Monnaies and d’Art à la Rca Cette Opportunité Unique de Développement Économique & Technologique 20. January 2023

Some departments commissioned to develop legislation are the Ministry of Mining and Geology, the Ministry of Agriculture and Rural Development, the Ministry of Water, Forestry, Hunting and Fishing and others.

The Central African Republic is one of the poorest countries in the world with a GDP of around $ 2.5 billion and a per capita gate of $ 980. President Touadéra expressed hopes that the upcoming transition to the world of cryptography could solve some of the financial problems:

"With access to cryptocurrencies, the monetary barriers that have existed so far will disappear, the main goal of the measures taken by the government is the development of the economy."

based on the model of El Salvador

The car became the second country in the world in April last year, in which Bitcoin serves as an official payment method. El Salvador was the first country to introduce cryptocurrency in September 2021 as a legal means of payment.

The authorities of the Central African Republic suggested that adoption promote financial recovery and improve the well -being of the residents.

President Touadéra has shown himself as an enthusiastic supporter of the primary digital wealth value and described it as "universal money".

He also advised the locals to recognize the merits of BTC that could help them create long -term prosperity in times of increasing inflation, global military conflicts and economic crises:

"The understanding of Bitcoin is crucial to recognize its disruptive strength to bring long -term prosperity. Mathematics do not take into account human emotions. In future, future generations will look back on our strength and unity when it comes to choosing the right way in difficult times."

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