BEAC to oversee CAR’s cryptocurrency project

The Bank of Central African States (Beac) will oversee the cryptocurrency adoption project ongoing in the Central African Republic. The decision was taken following the meeting of the Ministerial Committee of the Central African Monetary Union (Umac), yesterday July 21 in Douala. “After examining the implications of the law governing cryptocurrency in the Central African Republic concerning the community’s regulatory architecture in monetary and financial terms, the Board of Directors welcomed the expression by the CAR of its commitment to the single currency and respect for the statutes of the Bank of Central African States, the texts governing the monetary…