Central African Republic Announces New Bitcoin Plan

The Central African Republic, which legally recognizes Bitcoin, has announced its new plans for crypto.
 Central African Republic Announces New Bitcoin Plan
READING NOW Central African Republic Announces New Bitcoin Plan

The Central African Republic, which legally recognizes Bitcoin, has announced its new plans for crypto. Plans include a crypto island called Project Sango and a digital wallet.

The plans were published on the government’s official Facebook page. The post included a link that took people to a landing page on sango.org. After signing up for the waitlist, users were linked to a 24-page online presentation with more details about the project. According to the presentation, the Sango Project plans to create “the first legal crypto hub recognized by a country’s parliament.” Plans also include establishing a Digital Nation Bank, facilitating land purchases with Bitcoin, and developing a crypto wallet.

Under the plans, the country will support crypto companies’ access to natural resources such as gold, diamonds and uranium, and create a “citizenship by investment” program with zero taxes on income and businesses.

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