A timely text. While the current law, of which the Central African Constitutional Court has challenged certain articles, establishes the obligation for any economic agent to accept cryptocurrencies as a means of payment for procurement and the sale of a good or a service, the new text, exposed to the Ministers of Finance before the Umac, on March 15, rather advocates freedom of consent. For its part, the delicate question of automatic convertibility of cryptocurrencies into F CFA is not addressed.
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Bitcoin in the Central African Republic: the hour of truth for Bangui at the BEAC
During the extraordinary session of July 21, in Douala, of the Economic and Monetary Community of Central Africa (Cemac), which brings together Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea and Chad, the participants noted an incompatibility between certain provisions of Central African law and the agreements and conventions of Umac, as well as the statutes of the regional central bank. “This new amended text takes into account the recommendations made by the BEAC and its decision-making bodies”, comments and participant.