2 months ago 1 min read

Central African Republic's Sango Project Has Delay In Token Listing

sango coin-central african republic-the sango project-btc

The project has marketed Sango Coin to interested parties by offering investment-based pathways to CAR citizenship.

Following the launch of the Central African Republic's Sango Coin, the organization announced that its listing would be delayed "for a few weeks," citing legal and regulatory issues.

The Sango Project announced on March 31 on its Telegram channel that the government of the Central African Republic, or CAR, had made "significant progress" in establishing laws and regulations that will allow its cryptocurrency Sango Coin to be listed on cryptocurrency exchanges. However, the Sango Coin listing will be delayed for a few weeks until the frameworks are finalized, according to the project.

According to the Sango Project:

“There are also some other new surprises that will come along with these laws. Rest assured that this delay is necessary to ensure that Sango is fully compliant with all relevant regulations and that our products are launched in the most secure and responsible manner possible.”

One of the goals of Project Sango, a crypto hub proposed in the CAR in May 2022, was to list tokens. The initiative came after the government of the Central African Republic passed legislation allowing its citizens to use Bitcoin.
As legal tender alongside the CFA franc, BTC is worth $28,550.

Since the token and crypto hub were launched in July 2022, the project has marketed Sango Coin to interested parties by offering pathways to CAR citizenship through investments — a strategy that the country's court system reportedly declared unconstitutional in August. In December, Sango Project announced that the listing would be postponed due to market conditions. According to the project's website, the tokens will be listed at a price of $0.45.

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