Central African Republic’s Crypto Ventures Face Criticism
- A report by the Global Initiative against Transnational Organized Crime criticizes the Central African Republic’s cryptocurrency initiatives as poorly designed and opaque.
- Sango Coin, launched in mid-2022, raised less than €2 million, selling only about 10% of its planned tokens.
- The CAR meme coin experienced extreme volatility and generated modest revenues, with sales amounting to roughly $38,000 by late 2025.
- Laws enabling the tokenization of natural resources lack basic safeguards, posing risks for money laundering and foreign capture.
The Central African Republic’s cryptocurrency projects under President Faustin-Archange Touadéra have been criticized for benefiting foreign investors more than domestic needs, according to a new report. Despite efforts to boost investment through initiatives like Sango Coin and CAR meme coin, both projects faced significant challenges and failed to meet expectations.
Sango Coin raised less than €2 million from planned sales of its tokens, while the CAR meme coin saw limited success amid high volatility. These ventures highlight concerns over the country’s economic sovereignty and governance issues related to cryptocurrency use. (Source)
