Regulating cryptocurrencies in the Central African Republic: Has the cart been put before the horse?Posted: 21 July, 2022
Author: Rimdolmsom Jonathan Kabré
Postdoctoral researcher, Centre for Human Rights, University of Pretoria
On 22 April 2022, the Parliament of the Central African Republic (CAR) adopted the Law n°22.004 governing cryptocurrency in the Central African Republic (hereinafter the Law). This is the second time in the world, and the first time in Africa, that a country adopts cryptocurrencies as legal tender. Previously, some other African countries considered the issue of cryptocurrencies: In Algeria, for example, they are prohibited (see art 117 of 2018 Financial law). In Egypt, bitcoin transactions were classified as haram (in a non-binding religious decree of 2018) until the recent Central Bank and Banking Sector Law No.194 of the year 2020 which contains some rules regarding the use of financial technology. Nigeria has prohibited the trading of cryptocurrencies and launched its own digital currency called eNaira. In South Africa, the regulation of cryptocurrencies is imminent (see here and here).
Author: Boubakar A. Mahamadou
Graduate, Swiss Umef University
Africa is undoubtedly a continent rich in natural resources thanks to its subsoil which abounds in 30% of the world’s mineral resources. However, these resources have not allowed the long-awaited development of the continent to be achieved. These resources have also become the main sources of conflict on the continent. Indeed, the presence of significant natural resources on the territory of a State increases the risk of armed conflict. They can motivate secessionist demands, finance rebellions or even stir up violence. According to the United Nations Environment Program (UNEP), natural resources are associated with 40% of internal conflicts around the world. It is in this sense that in Africa, we have been witnessing for some time now, the development of an economy of armed conflict.