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Central African Republic Delays Crypto Coin Listing to 2023
The country was one of the first to declare bitcoin as legal tender.
Updated Dec 20, 2022, 5:16 p.m. Published Dec 20, 2022, 11:03 a.m.
The Central African Republic (CAR) won’t list its sango crypto coin until next year, according to an official statement.
The country is one of the first in the world to declare bitcoin as its legal tender, but its most senior judges have rejected an attempt to allow crypto investors to buy citizenship via $60,000 worth of sango.
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“We are going to postpone the listing of sango and the 5% release to Q1 [the first quarter of] 2023,” said the statement, posted by moderators in sango’s Telegram channel. It cited “current market conditions” and seasonal factors such as the holiday season.
Investors had been promised that they would get back 5% of their stake at the moment of listing. Moderators declined to comment on whether the delay had been caused by central bankers or legal obstacles.
The government wants to make the country a crypto hub, with ministers saying they wanted to be “one step ahead” on new technology.
Read more: Central African Republic Adopts Bitcoin as Legal Tender
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