{
  "title": "Central African Republic: Selected Issues",
  "publication": "IMF Staff Country Reports, May 2, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/05/02/central-african-republic-selected-issues-533022",
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  "summary": "This Selected Issues paper on the fintech and crypto assets in the Central African Republic (CAR). CAR’s initial steps in the form of the 2022 crypto law have created legal uncertainties at the Central African Economic and Monetary Community level and raised numerous concerns but some of the most co",
  "sections": [
    {
      "heading": "Scope and focus",
      "content": "- Selected Issues paper on the fintech and crypto assets in the Central African Republic (CAR).\n- Examines CAR’s initial steps, including the 2022 crypto law and the launch of a digital coin named Sango and a namesake platform-ecosystem."
    },
    {
      "heading": "Key findings and developments",
      "content": "- CAR’s 2022 crypto law:\n  - Created legal uncertainties at the Central African Economic and Monetary Community level.\n  - Raised numerous concerns, though some of the most controversial provisions have been recently revised.\n- Project Sango:\n  - Authorities proceeded with the launch of a digital coin named Sango and a namesake platform-ecosystem with multifaceted features.\n  - Only a limited amount of coins have been issued.\n  - Other elements of the project have not been launched.\n  - Attracted considerable interest for its potential to bring opportunities through digitization.\n- Risk profile:\n  - Project Sango raises complex risks spanning macro-fiscal and financial to financial integrity, governance, consumer protection and others.\n  - The project appears too complex, creating interconnectedness between multiple sectors and private and public balance sheets in a manner that could raise systemic risks.\n  - Points to the importance of reconsidering the existing blueprint."
    },
    {
      "heading": "Policy implications and recommendations (implicit from analysis)",
      "content": "- Reconsider the existing Sango blueprint to address complexity and potential systemic risks.\n- Address legal uncertainties within the Central African Economic and Monetary Community framework arising from the 2022 crypto law.\n- Weigh digitization opportunities against risks to macro-fiscal stability, financial integrity, governance, and consumer protection before scaling project elements."
    },
    {
      "heading": "Subject tags and keywords (as reported)",
      "content": "- Subject: Food security, Fuel prices, International organization, Monetary policy, Poverty, Price structures, Prices, Revenue administration, Technology, Virtual currencies\n- Keywords: CAR authorities, cryptographic ambition, Food security, Fuel prices, fuel products, Global, import cost audit, Price structures, reforming fuel price, Sub-Saharan Africa, Virtual currencies\n\n---\n\n Content in this bundle\n\n- Central African Republic: Selected Issues; IMF Country Report No. 23/156; April 18, 2023\n  - Central African Republic: Selected Issues; IMF Country Report No. 23/156; April 18, 2023 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Central African Republic: Selected Issues; IMF Country Report No. 23/156; April 18, 2023 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "[Markdown version](/en/publications/cr/issues/2023/05/02/central-african-republic-selected-issues-533022/index.md)",
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    "Published: May 2, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400239946.002",
    "Selected Issues paper on the fintech and crypto assets in the Central African Republic (CAR).",
    "Examines CAR’s initial steps, including the 2022 crypto law and the launch of a digital coin named Sango and a namesake platform-ecosystem.",
    "CAR’s 2022 crypto law:",
    "Project Sango:",
    "Risk profile:",
    "Reconsider the existing Sango blueprint to address complexity and potential systemic risks.",
    "Address legal uncertainties within the Central African Economic and Monetary Community framework arising from the 2022 crypto law.",
    "Weigh digitization opportunities against risks to macro-fiscal stability, financial integrity, governance, and consumer protection before scaling project elements.",
    "Subject: Food security, Fuel prices, International organization, Monetary policy, Poverty, Price structures, Prices, Revenue administration, Technology, Virtual currencies",
    "Keywords: CAR authorities, cryptographic ambition, Food security, Fuel prices, fuel products, Global, import cost audit, Price structures, reforming fuel price, Sub-Saharan Africa, Virtual currencies",
    "**Central African Republic: Selected Issues; IMF Country Report No. 23/156; April 18, 2023**"
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