Sango Coin: The CAR presidency is not giving up!

On August 29, the Constitutional Court of the Central African Republic decided to reject certain provisions of the Sango Coin project, initiated by the President of the Republic Faustin-Archange Touadéra. This has caused some to fear the outright death of the Sango Coin. By a tweet from the president on August 30, then by a press release from the Sango project team on September 12, the initiators of the project wanted to put things right.

Central African crypto
Photo by totolekoala we Deposit Photos

Sango Coin’s ambitious initiative had filled many crypto-enthusiasts with hope. However, to date, it is clear that the project is struggling to get off the ground. Indeed, the first sales cycle, launched in full Bear Market, struggling to find takers since less than 8% of available Sango tokens have been sold. The closing of this cycle has also been postponed to 1er october.

Then, it was the decision of the Constitutional Court of August 29 that cooled the ardor of many Sango Coin supporters. However, contrary to what has been said or written here and there, this decision does not call into question the validity of the project, nor its existence. And its initiators are determined, despite the difficulties, to continue to move forward.

The president reacts

Indeed, the Constitutional Court did not declare that the Sango project in itself was unconstitutional, but only some of its components, namely e-residence, Central African citizenship and the sale of land. So yes, these are key elements of the Sango initiative, and their withdrawal would greatly undermine its viability. President Touadéra therefore first issued a press release on August 30 to clarify the situation and mark his determination:

He notes with satisfaction that the Constitutional Court has not issued a negative opinion on the legalization of bitcoin itself. This implies that it is now de facto accepted. He takes note of the Court’s decision. He undertakes to take “all appropriate measures to avoid potential violations of the Constitution (…) within the framework of the implementation of the Sango project. And he “reaffirms that the Sango project, whose basic text has been declared in conformity with the Constitution, remains and remains the new economic structure (…) capable of stimulating trade and supporting the country’s growth. »

Sango publishes its press release

It was on September 12 that the Sango team published a press release by email and via their Telegram channel. They explain: “We do not consider the decision of the Constitutional Court as a setback. We continue to work on modifying and creating the perfect legal framework to support the whole Sango project with all products. The articles of the Constitution that are under discussion are currently being evaluated. Very soon, new versions will be proposed and transmitted to the National Assembly for approval. »

The game therefore does not seem to be over and the future will tell if the determination of the stakeholders will be crowned with success.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential!

Similar Posts