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    Home»News»Policy & Economy»Central African Republic Postpones Listing of Its Crypto to 2023
    Policy & Economy

    Central African Republic Postpones Listing of Its Crypto to 2023

    Anietie DavidBy Anietie DavidDecember 20, 2022Updated:December 20, 2022No Comments2 Mins Read
    Central African Republic Postpones Listing of Its Crypto to 2023
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    The Central African Republic has announced it will delay the listing of cryptocurrency, Sango Coin, on crypto exchanges due to current market conditions and marketing reasons. The update was revealed in Sango’s Telegram group. 

    “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, citing “current market conditions” and seasonal factors such as the holiday season.

    Sango Coin Announcement on telegram Channel

    Investors had been guaranteed a 5% return on their investment at the time of listing. The moderators chose not to address whether central bankers or legislative barriers were to blame for the delay. According to officials, the government wants to be “one step ahead” of emerging technologies and aims to establish the nation as a crypto center.

    Central African Republic Launched Sango Coin for Fundraising

    Sango Coin was introduced in July to raise close to $1 billion over the following 12 months. However, according to the Sango website, just $1.66 million worth of the currency has been sold thus far. The Central African Republic became the first African nation to legalize Bitcoin (BTC) as money in April of this year.

    A plan to enable foreign investors to purchase citizenship for $60,000 worth of Sango Coins had also been previously disclosed by the nation. The nation’s highest court, however, rejected this initiative as unlawful in August.

    In addition to governance benefits, Sango Coin provides alluring incentives to overseas investors, such as citizenship by investment and, ultimately, a CAR passport. It resembles El Salvador’s volcano bonds or Bitcoin in a manner since the currency provides a quick international investment solution.

    The Central African Republic’s adoption of Bitcoin as legal cash is a key milestone in the general acceptance of the world’s largest cryptocurrency, notwithstanding the difficulties the country and the Sango Coin have endured. 

    Blockchain Central African Republic Economy Sango Coin
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    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

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