Report: Central African Republic's Advancement of Cryptocurrency Initiatives Intensifies Elite Monopoly and External Crime Risks

According to Odaily, the Global Initiative Against Transnational Organized Crime (GI-TOC) has released a report stating that the Central African Republic (CAR)'s push for cryptocurrency has not promoted financial inclusion, but rather benefited a small elite group and exposed the country to the influence of foreign criminal networks. The report notes that, amid severe shortages of electricity, internet, and regulation, CAR's crypto projects—from bitcoin legalization, Sango Coin, to national meme coins—primarily serve the interests of foreign investors and a few insiders. The report also criticizes the 2023 law allowing the tokenization of oil, gold, timber, and land, arguing that it may undermine national sovereignty. (Cointelegraph)