Crypto

CEMAC: Monetary Union Wants a Regulatory Framework for Crypto Assets

After examining the impact of the law regulating cryptocurrencies in the Central African Republic on the regulatory architecture of the Community in monetary and financial matters, the Ministerial Committee noted that some of the provisions of this law are incompatible with the agreements and conventions governing the activities of the Union. Central Africa and the Charter of the Bank of Central African States (CBCA).

The Ministerial Committee took note of the convergence of the Government of the Central African Republic with the BEAC and international financial institutions, in particular the International Monetary Fund and the World Bank, while hoping that a solution that maintains the compatibility of national provisions on this issue with the institutional and regulatory architecture of the Community will be the result of this approach .

UMAC invites the Central Bank to accelerate the process of developing a regulatory framework governing crypto assets in CEMAC and take actions in favor of expanding access to financial services and modernizing the payment infrastructure.

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