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The Central African Republic is looking to develop a law on the use of digital currencies

The Central African Republic – a developing country in the heart of the African continent – ​​has formed a 15-member committee to draft a bill on the use of digital currencies and tokenization of assets.

According to Valx and quoted by Coin Telegraph, Faustin-Archange Touadera, the president of this country, believes that digital currencies can help eradicate financial obstacles in Central Africa. He is a supporter of creating a business-friendly environment with the help of a legal framework for the use of digital currencies. The official statement published reads as follows:

With access to digital currencies, existing monetary barriers will disappear. The main goal of the actions taken by the government is the development of the national economy.

The committee responsible for drafting the digital currency law consists of 15 experts from five ministries of mines and geology, the ministry of water resources, forests, hunting and fishing, the ministry of agriculture and rural development, the ministry of urban planning, land reform and housing, and the ministry of justice, promotion of human rights and governance. Is.

These members have the duty to help each other on the legal framework of activity and use of digital currencies Central African Republic work and provide the basis for the development of the national economy.

Another development in the field of digital currencies of the African continent was the authorization of the Nigerian exchange Roqqu (Roqqu) in the European Economic Area. This exchange was waiting to receive this license for two years.

Benjamin Onomor, director of the Roku exchange, said in a conversation with Cointelegraph:

Migrant Africans send more than $5 billion annually to their families on the African continent. The current payment system slows down this process. Solving this problem with the help of cryptocurrencies is very logical. Crypto is a faster and cheaper alternative that can fill the current void and help reduce the cost of transferring money globally. This is the main problem we are trying to solve.

The post Central African Republic seeks to develop a law on the use of digital currencies appeared first on Wallex Blog. appeared.


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