Crypto Risks Threaten Central African Republic State Assets

Crypto Risks Threaten Central African Republic State Assets

The Central African Republic (CAR) has embraced cryptocurrency under President Faustin-Archange Touadéra, who has championed digital assets since taking office in 2016. In 2022, CAR became the first African nation and the second worldwide to adopt Bitcoin as an official currency. President Touadéra has promoted these initiatives as a way to raise funds outside traditional […] The post Crypto Risks Threaten Central African Republic State Assets a…

REPORT | Opaque Crypto Schemes Endanger Central African Republic State Assets, Says Report by Global Initiative Against Transnational Organized Crime

Central African Republic’s embrace of opaque cryptocurrency schemes may put state assets at risk of being captured by foreign criminal organizations, according to a highly critical report published as the nation prepares for a presidential election. President Faustin-Archange Touadéra, who is seeking a third term in office ahead of elections on December 28 2025, has emerged as a prominent advocate for digital currencies since taking office in 20…

CAR’s Crypto Drive Empowers Elites, Invites Foreign Risk

The Global Initiative Against Transnational Organized Crime (GI-TOC) reported that the Central African Republic’s move toward cryptocurrency has increased the power of political and business elites while leaving the country open to outside criminal influence.

Central African Republic Bitcoin Adoption Facilitated State Capture Rather Than Financial Inclusion

The Central African Republic's cryptocurrency ventures enabled foreign criminal organizations and deepened elite control rather than improving financial inclusion, according to a new report. The Global Initiative Against Transnational Organized Crime published research titled "Behind the blockchain: Cryptocurrency and criminal capture in the Central African Republic." The report examined CAR's Bitcoin legal tender adoption, Sango Coin launch, an…

Central African Republic’s Crypto Experiment ‘Riddled With Red Flags,’ Says Report

The Global Initiative against Transnational Organized Crime said that the CAR president’s embrace of crypto has offered few benefits.

Central African Republic's bet on crypto exposes state assets to new risks

As the Central African Republic approaches a closely monitored national election, a new report is raising concerns about the country’s increasing dependence on cryptocurrency and its potential impact on public assets. The report published on Wednesday by the Global Initiative Against Transnational Organised Crime (GI-TOC) highlights weaknesses in various government-backed crypto projects, warning that inadequate oversight could make state resour…