Constitutional challenges to cryptocurrencies regulation in the Central African Republic

Rimdolmsom-Jonathan-KabreAuthor: Rimdolmsom Jonathan Kabré
Postdoctoral researcher, Centre for Human Rights, University of Pretoria

In my previous blog, I argued that the “CAR rushed to legislate cryptocurrencies without creating the ecosystem in which they should operate and ensuring that the country was ready for such a shift to cryptocurrencies. Therefore, many challenges still need to be addressed not only at the national level but also at the regional level”. I mainly highlighted the lack of infrastructure at the national level and discussed the challenges to regional integration since the CAR is a member of the Central African Economic and Monetary Community (CEMAC) which has entrusted the ‘exclusive privilege of monetary issue on the territory of each member state of the monetary union’ to the Bank of Central African States (BEAC). On 20 July 2022, this question was examined during the extraordinary session of the Board of Directors of the BEAC which encouraged the Central Bank to continue actions in favor of financial inclusion and the modernization of its infrastructure as well as the reflection aimed at creating a central bank digital currency.

About the Author:

Rimdolmsom Jonathan Kabré is a postdoctoral researcher at the Centre for Human Rights, University of Pretoria, South Africa, where he also coordinates the LL.M. Programme in International Trade and Investment Law in Africa. Dr. Kabré completed his doctoral studies at University of Lausanne in 2019, for which he was awarded the 2020 Prix de Faculté of the University of Lausanne. He studied law at the University Thomas Sankara in Burkina Faso (LL.B. and LL.M.) and holds an LL.M. in International and Comparative Law from the University of Lausanne.Dr. Kabré’s research interests span across the settlement of international disputes, socio-legal approaches to law and international economic law with a particular focus on Africa. He is the authored of the monograph Le role des juristes privés dans le règlement des différends impliquant les Etats (Helbing lichtenhahn verlag, 2021).

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