{"id":15939,"date":"2022-12-29T11:55:43","date_gmt":"2022-12-29T11:55:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/central-african-republic-postpones-sango-coin-listing-africa-bitcoin-news\/"},"modified":"2022-12-29T11:55:43","modified_gmt":"2022-12-29T11:55:43","slug":"central-african-republic-postpones-sango-coin-listing-africa-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/central-african-republic-postpones-sango-coin-listing-africa-bitcoin-news\/","title":{"rendered":"Central African Republic Postpones Sango Coin Listing \u2013 Africa Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The Central African Republic\u2019s plan to list the sango coin in the last quarter of 2022 has been put on hold, while the scheduled unlocking of 5% of token holders\u2019 portfolios has similarly been postponed, a statement from the team promoting the token has reportedly said. The decision to delay the listing of the coin was prompted by what the team terms \u201ccurrent market conditions.\u201d<\/strong><\/p>\n

Scheduled Token Unlocking Postponed<\/h2>\n

Nearly eight months after becoming the first country in Africa to adopt bitcoin, the Central African Republic (CAR) recently said it will not proceed with the listing of its \u201cSango\u201d crypto token as planned. In a statement reportedly<\/a> posted in a sango coin Telegram group, the team promoting the token claimed that \u201ccurrent market conditions\u201d had necessitated this decision.<\/p>\n

Besides the listing delay, the CAR team said the planned unlocking of up to 5% of sango holders\u2019 portfolios had been postponed as well. According to the token information available on the official Sango website<\/a>, the CAR had hoped to list the coin before the end of 2022.<\/p>\n

However, just like the country\u2019s decision to make bitcoin legal tender, which has faced a series of problems, the Central African Republic\u2019s sango coin, too, has run into a series of challenges. Chief among these has been the seemingly limited investor interest in the sango coin. The court ruling that declared unconstitutional<\/a> the government\u2019s plan to grant the country\u2019s citizenship to sango coin holders is also believed to have dampened investor interest.<\/p>\n

In addition, many bitcoiners that initially supported the CAR\u2019s decision to make the top cryptocurrency legal tender have questioned<\/a> the motives behind the sango coin initiative.<\/p>\n

\u2018Sango Bitcoin Sidechain Testnet\u2019<\/h2>\n

Despite encountering these and other setbacks, the CAR government is still proceeding with the token sale which is now in \u201ccycle 2.\u201d Also as shown by the token roadmap, the CAR will proceed with the \u201cSango bitcoin sidechain testnet\u201d in the first quarter of 2023, before launching the so-called national mobile smartphones program.<\/p>\n

Concerning the CAR government\u2019s plan to grant citizenship to investors that acquire or hold $60,000 worth of sango coins, an unidentified Telegram moderator reportedly said \u201cmore updates about this will be made next month.\u201d<\/p>\n

Register your email here to get a weekly update on African news sent to your inbox:<\/em><\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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