According to reports, a constitutional court in Central African Republic ruled that the Touadera government’s offer of land or citizenship to sango coin buyers is illegal. 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
A constitutional court ruled that the government's plans to grant full citizenship to investors in the sango coin cryptocurrency was illegal, in a decision likely to damage the Central African Republic's crypto ambitions. The court also ruled that the government's offer to land and minerals to sango coin buyers was unconstitutional.
The court ruled that the country's "nationality does not have market value" and President Faustin Archange Touadera must cease promising citizenship to investors who buy singo coins worth $60,000.
The Government Respects the Decision of the Court
Albert Yaloke Mokpeme (spokesman for CAR presidency), said that the government would now seek other ways to reward sango coin holders, including citizenship and land. He stated:
We are respectful of the court's decision. We're currently looking for another way to offer land or citizenship to investors.
At the time this article was written, President Touadera has not yet issued a statement. He has frequently tweeted about his government’s ambitions. 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.
Sign up here to receive a weekly update about African news delivered to your inbox:
What are your thoughts about this story? Please comment below to let us know your thoughts.
—————————————————————————————————————————————————————————————–
By: Terence Zimwara
Title: Report: Constitutional Court Says Central African Republic’s Sango-Coin-for-Citizenship Scheme Is Illegal
Sourced From: news.bitcoin.com/report-constitutional-court-says-central-african-republics-sango-coin-for-citizenship-scheme-is-illegal/
Published Date: Wed, 31 Aug 2022 04:30:41 +0000
Leave a Reply