The Constitutional Court of the Central African Republic has opposed the sale of the country’s citizenship and natural resources by the Sango project. This is a blow for the initiative which will have to reinvent itself. However, this same court decision reinforced the legitimacy of the law regarding the adoption of Bitcoin (BTC) as the second national currency.

The fundamentals of Sango threatened by the Constitutional Court

In the Central African Republic, the Sango projectwhose development we are following closely, is in difficulty after a court decision by the Constitutional Court of the country.

Indeed, the President of the Republic, Faustin-Archange Touadéra, relayed this information on his Twitter profile:

According to justice, it is in particular the idea of market citizenship of the country which poses a problem, as Obed Namsio, the President’s Chief of Staff, reported:

“By the same decision, the High Court of the State in constitutional matters declared unconstitutional and consequently annulled the sale of the Central African Nationality, the creation and the sale of an e-Residence, the sale of land and natural resources, published by the official document. »

Note, however, that it would appear that the legal entity also had to decide on a request cancellation of law 22.004, as well as the use of the word “Sango”, which is historically the name of a language. The law in question is actually the one that made Bitcoin (BTC) the second legal tender in the country.

This request for annulment was rejected and the law is therefore not in question.

👉 To go further – Find our guide to buying Bitcoin (BTC)

A project that struggles to convince

Despite this blow, dealt by the Constitutional Court vis-à-vis the Sango project, the government remains determined. And for good reason, the fact that the law on cryptocurrencies is not endangered is an important victory. In addition, it is specified that Faustin-Archange Touadéra will take into account court decisions and that Sango will be adapted accordingly.

Unfortunately, the first figures of the token sale are not so engaging. It started a month ago, and of the 210 million tokens put on the market during the first phase, only a little less than 15 million have been sold.

While the latter were offered at a price of 10 cents each, this does not represent that a receipt of 1.58 million dollars. Additionally, these assets were to be used to purchase citizenship and plots of land from the project, so their usefulness is questioned.

At this time, no update has been made on a possible new thread from Sango. Despite this, the Central African government is certainly already working to give new impetus to this initiative. Without a change of course, the project is in danger of dying in the bud.

👉 Also in the News – Paraguayan President Vetoes Cryptocurrency Regulation Law

Source : Sango