Court: Offering Land And Citizenship To Investor Sango Coin Is Illegal

Sango Coin, did not receive full support in Central Africa. (photo: doc. Blockchain Journal)

JAKARTA The Central African Republic has ambitions to become a crypto hub in Africa. After legalizing Bitcoin as a payment option some time ago, President Fausin-Archange Touadéra and his staff launched Sango Coin. Sango Coin investors were promised land and citizenship in the country.

However, these efforts will not go smoothly. Recently, the court has given a decision regarding the full citizenship offer to investors Sango Coin. The court stated that "citizens do not have a market value."

Therefore, the government of President Fausin-Archange Touadéra is required to stop promising investors who buy Sango coin worth US$60,000. In addition, the court said government's offer of land and access to minerals such as gold to buyers Sango Coin was not constitutional.

Government Response Regarding Court Decisions

President Fausin-Archange Touadéra's administration responded to the decision by stating that they respected the court's decision. One of the presidential spokesmen of the Central African Republic, Albert Yaloke Mokpeme, explained that currently the government will look for other ways to reward Sango Coin's owner.

"We respect the court's decision and we are now looking for other ways to offer land and citizenship to investors," Mokpeme was quoted as saying by Bitcoin News.

At the time of writing, President Touadéra, who regularly tweeted about his government's ambitions, has not issued a statement. On the other hand, websites tracking the sale of Sango Coin show that there were more than 194 million coins that were not sold more than a month after the token was launched.

With this decision, the Toiadéra administration's efforts do not seem to be in line. However, the Central African Republic has shown its interest in cryptocurrencies.