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    Author Topic: What's happening in The Central African Republic?  (Read 192 times)
    stompix (OP)
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    February 09, 2023, 06:46:50 PM
    Merited by JayJuanGee (1)
     #1

    Everyone is talking about Salvador but there is almost no interest here from the other country that has adopted Bitcoin, little news coming from the Central African Republic, and I was quite surprised when visiting a topic I happened to come across this piece of news:

    https://cointelegraph.com/news/central-african-republic-eyes-legal-framework-for-crypto-adoption
    Quote
    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.

    All nice and so on but, wasn't Bitcoin already legal tender here, so what kind of "framework" do you need to approve?
    And then, this thing :

    https://african.business/2022/07/technology-information/what-you-need-to-know-about-the-central-african-republics-adoption-of-bitcoin/

    Quote
    On 26 July the Central African Republic (CAR) froze the application of its law adopting bitcoin as an official currency alongside its local currency, the Central African CFA franc, until the the Bank of Central African States (BEAC) issues regulations for cryptocurrency throughout the Central African Economic and Monetary Community (CEMAC).

    https://www.theafricareport.com/226880/car-backs-down-from-implementing-cryptocurrency-law-in-exchange-for-beac-engagement/

    Quote
    Bangui agreed not to implement its cryptocurrency law in exchange for BEAC regulating crypto assets. This common ground was reached in Cameroon’s economic capital Douala on 20 and 21 July. While the worst was expected, the CAR came out of it relatively well.
    No implementing decree
    “Bangui has undertaken not to publish the decree implementing the 22 April law. This is equivalent to freezing its implementation. In return, it will have to wait until the BEAC develops a regional regulation on crypto assets to comply with it,” says our interviewee.

    There is a complete gap in news from July and I really can't find anything about the current situation, so what is from a legal point of view the situation right now there? I know we have quite a few users from Nigeria and other countries in the area but do we have members from CAR around? Would be interesting to hear from somebody who lives there!

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