The Central African Republic is taking the steps necessary to make sure the citizens of the nation are able to use cryptocurrencies and tokenization to transact with each other and with the rest of the world.
The 15-person committee was established to create legislation regulating the usage of cryptocurrency and tokenization.
President Faustin-Archange Touadéra believes cryptocurrency will play a role in breaking down the country’s economic hurdles.
The government has taken the initiative to create a crypto-friendly legal framework to encourage commerce.
Also, Nigerian crypto exchange Roqqu has received a virtual currency license from regulatory authorities in the European Economic Area.
This is a big step for cryptocurrency adoption in Africa as it allows the exchange to offer services to the African market.
Benjamin Onomor, CEO of Roqqu, noted that the existing remittance system is inefficient and that crypto could be a faster and cheaper route to bridge the gap and help reduce fees in moving money globally.
The Central African Republic is taking the initiative toward cryptocurrency adoption and with the help of the 15-person committee, a crypto-friendly legal framework will be established.
This will enable the citizens of the nation to use cryptocurrencies and tokenization to transact with each other and with the rest of the world.
