The president of Central African Republic (CAR), Faustin-Archange Touadéra, has announced the launch of a crypto project in the country.
The crypto initiative named ‘Sango’ is aimed at building a “legal crypto hub,” expanding the adoption of Bitcoin, and creating a “crypto island” — a special economic zone in the metaverse.
The President made announcement on June 27, 2022 via his official twitter account. According to Sango’s website, the government intends to launch the program during a July 3 event .
Expected at the even include the the president, members of his cabinet and industry experts. They will discuss the physical and digital infrastructure needed for the CAR to enter the crypto space, as well as the legal framework for the country.
On the Sango project, the president stated, “The ambitious strategy to quickly build a successful economy can only rely on new technologies that have taken the world by storm and taken money to another level, with Bitcoin as a watchword”.
The Central African Republic (CAR) became the 2nd nation in the world to adopt Bitcoin as a legal tender in April. El Salvador was the first nation to adopt the Satoshi Nakamoto created currency in September 2021.