At the boards of directors of the Bank of Central African States (BEAC) and UMAC, held on July 20 and 21, 2022 in Douala, strong resolutions were taken in this regard at Sangocoin. One of the decisions is the abandonment of cryptocurrency by the Central African Republic.

The use of “local bitcoin” called “Sangocoin” adopted on July 3, 2022 will not last long. “After examining the implications of the law governing cryptocurrency in the Central African Republic on the community's regulatory architecture in monetary and financial matters, the board of directors welcomed the expression by R& The Central African Republic for its commitment to the single currency and to compliance with the statutes of the Bank of Central African States, the texts governing the Monetary Union and its community commitments,” said in a statement signed by the Chairman of the Council of BEAC administration, Hervé Ndoba, who is also Central African Minister of Finance and Budget.

In other words, the Central African Republic remains in solidarity with the UMAC community statutes prohibiting the use of a currency other than the FCFA in the six countries of the L& rsquo; Central Africa (CEMAC): Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad.