The Central African Republic, which legally recognizes Bitcoin, has announced its new plans for crypto. Plans include a crypto island called Project Sango and a digital wallet.
The plans were published on the government’s official Facebook page. The post included a link that took people to a landing page on sango.org. After signing up for the waitlist, users were linked to a 24-page online presentation with more details about the project. According to the presentation, the Sango Project plans to create “the first legal crypto hub recognized by a country’s parliament.” Plans also include establishing a Digital Nation Bank, facilitating land purchases with Bitcoin, and developing a crypto wallet.
Under the plans, the country will support crypto companies’ access to natural resources such as gold, diamonds and uranium, and create a “citizenship by investment” program with zero taxes on income and businesses.
