The organization behind the launch of Sango Coin in the Central African Republic has announced a delay of its listing “only a few weeks,” citing legal and regulatory hurdles.
The government of the Central African Republic (CAR) has made “significant progress” in enacting laws and regulations that will allow its cryptocurrency, Sango Coin, to be listed on cryptocurrency exchanges, the Sango Project said in a March 31 message on its Telegram channel. However, according to the project, the listing of Sango Coin will be delayed by a few weeks until the framework is finalized.
"These laws will bring some other new surprises," Sango Project said. "Please rest assured that this delay is necessary to ensure Sango is fully compliant with all relevant regulations and to ensure that our products are launched in the safest and responsible manner possible." Token listing is one of the goals of Project Sango, a crypto hub proposed at CAR in May 2022. The initiative comes after the CAR government passed legislation allowing its citizens to use Bitcoin Along with the CFA franc as legal tender.
Since the launch of the crypto hub and token in July 2022, the project has marketed Sango Coin to interested parties by offering a path to citizenship in the Central African Republic through investment a strategy that was reportedly closed in August 2022. The country's court system declared it unconstitutional. The Sango project announced in December that listing would be delayed due to market conditions. According to its website, the project plans to list the token at $0.45.
