Constitutional Court Says Central African Republic’s Sango-Coin-for-Citizenship Scheme Is Illegal – Featured Bitcoin News

A constitutional court in the Central African Republic has reportedly ruled that the Touadéra government’s offer of land and citizenship to buyers of the sango coin is unconstitutional. The court said the sango-coin-for-citizenship scheme must be stopped because the country’s “nationality has no market value.”

Sango Coin Investors: Land and Minerals Not Constitutional

In a ruling likely to derail the Central African Republic (CAR)’s crypto ambitions, a constitutional court has ruled that the government’s plan to offer full citizenship to investors in its sango coin cryptocurrency is illegal. In addition, the court said the government’s offer of land and access to minerals such as gold to sango coin buyers is unconstitutional.

According to the court, the country’s “nationality has no market value,” hence President Faustin-Archange Touadéra’s government must stop promising citizenship to investors that buy sango coins worth $60,000.

Government Says It Respects Court’s Decision

Albert Yaloke Mokpeme reportedly stated that government is now looking for ways to give sango coins holders land and citizenship in response to the decision. He stated:

We respect the court’s decision and we’re now looking at another way to offer land and citizenship to investors.

At the time of writing, President Touadéra, who has regularly tweeted about his government’s ambitions, has not issued a statement. The website that tracks sango coin sales has shown that more than 194 million coins have not been sold in the month since the token sale began.

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. His writings have covered the economic problems of several African countries and how digital currency can offer an escape route.