Central African Republic strives to build a regulatory system


The Central African Republic (CAR) has created a special committee of 15 people to develop a regulatory structure that will allow the use of cryptocurrencies to strengthen the local economy.

CAR is a less developed country with a poor economy and monetary system, more than 70% of its citizens live in poverty.

The committee appointed by the Government includes delegates from five different ministries. President Faustin-Arcange Touadera believes that cryptocurrencies will create a favorable atmosphere for business:

"By gaining access to cryptocurrencies, we will be able to get rid of existing financial restrictions. The main priority of our government is economic progress."

CAR is the second country in the world after Salvador to accept bitcoin as a legal tender with unlimited circulation.

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