The Central African Republic announced that Bitcoin would be legalized for all citizens. Following the news, the government announced Project Sango, a plan to establish a Bitcoin hub in the Republic.
The idea to establish the first Bitcoin hub recognized by a government was unveiled on the official country’s Facebook page as Project Sango. It comprises the development of a Bitcoin wallet as well as the creation of a Digital Nation Bank to authorize Bitcoin land sales.
Furthermore, the release stated that Bitcoin companies will have easier access to natural resources such as uranium, diamonds, and gold. Another plan is to create a citizen by investment option, which would include zero-rate income and corporate taxes.
President of the Central African Republic, Faustin-Archange Touadéra, has publicly voiced his enthusiasm for Bitcoin and his optimism about the many benefits that these recent moves will bring to his country and its citizens.
The country aspires to become a focal point for the Bitcoin community as well as an appealing development environment.
