The organization that follows the launch of Sango Coin, from the Central African Republic, has announced a delay of its launch “just for a few weeks” alleging legal and regulatory obstacles.
In a March 31 message on its Telegram channel, the Sango Project said the government of the Central African Republic, or CAR, had made “significant progress” in establishing laws and regulations that will allow its cryptocurrency Sango Coin to be listed on cryptocurrency exchanges. However, according to the project, the listing of Sango Coin will be postponed for a few weeks before the frames are finalized.
“There are also some other new surprises that will come along with these laws,” the Sango Project said. “Please be assured that this delay is necessary to ensure that Sango is fully compliant with all relevant regulations and that our products are released in the safest and most responsible manner possible.”
Short Sango update
The government task force is working to change the laws in order to integrate #SANGO.
Cycle 3 is live.âœ…
all #SANGO that wasn’t bought in the sale cycles will be burned.
We are currently working on distributing all the prizes of the Sango $1M Contest https://t.co/scDF4g8EKF
— Sango (@sangoproject) January 20, 2023
The price of the tokens was one of the goals of Project Sango, a proposed cryptocurrency hub in the Central African Republic in May 2022. The initiative arose after the government of the Central African Republic passed a law allowing its citizens to use Bitcoin (BTC) as legal tender alongside the CFA franc.
Since the token and cryptohub were launched in July 2022, the project has marketed Sango Coin to interested parties offering avenues to gain RCA citizenship through investments, a strategy that was reportedly ruled unconstitutional by the country’s judicial system in August. Sango Project announced in December that the listing would be delayed due to market conditions. According to its website, the project plans to list the tokens at a price of $0.45.
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