Central Africa begins reviewing legal framework for crypto assets | coindesk JAPAN | Coindesk Japan

The Central African Republic has set up a committee of experts from multiple government ministries to draft crypto-related legislation, according to the country’s Faustin-Archangel Touadera. President on January 20thannounced on twitter.

The ministries involved include the Ministry of Mines and Geology, the Ministry of Waters, Forests, Hunting and Fisheries, and the Ministry of Agriculture and Rural Development, according to a press release attached to the tweet. The release states that crypto assets (virtual currencies) will be operated domestically based on this framework.

The country wants to pave the way for more widespread adoption of crypto assets. In a tweet, President Tuadera described the technology as a “unique opportunity for economic and technological development.” The Central African Republic adopted Bitcoin (BTC) as legal tender in April 2022. It plans to list its own cryptocurrency, Sango, on exchanges in the second half of 2023.

Many countries around the world are moving to enact crypto-related laws. The European Union (EU) is set to vote in April on the Markets in Crypto Assets (MiCA), a broad crypto regulation focused on stablecoins. The UK is expected to release the details of the talks in the coming weeks, and US Senators Elizabeth Warren and Roger Marshall have proposed legislation to crack down on crypto money laundering and terrorist financing. was submitted to parliament.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
| Image: Central African Republic and Bitcoin flags (Shutterstock)
｜Original: Central African Republic Forms Committee to Draft Crypto Bill