AA / Yaoundé / Peter Kum
The Central African Constitutional Court (CC) rejected, on Monday August 29, certain provisions of the “Sango coin” project launched by President Faustin-Archange Touadera on July 3 to boost the modernization of the country’s infrastructure.
In its decision on Monday, the Constitutional Court ruled “unconstitutional the sale of Central African nationality and certain resources of the country through the Sango coin project”.
“The sale of Central African nationality is unconstitutional and is annulled,” the court said on Monday, relying on article 80 of the Central African Constitution.
As a reminder, it was on August 1, on the initiative of members of the Action Group of Civil Society Organizations for the Defense of the Constitution of March 30, 2016, that a request was filed with the Constitutional Court aimed at deem illegal the global sale of Central African nationality, land and natural resources of the CAR, organized through the national cryptocurrency policy.
Following this request, the Court ruled on Monday “that it is therefore necessary to declare unconstitutional the sale of land and natural resources, as provided for by the official document Sango Genesis Paper and on the Sango.org website, and to cancel the relevant provisions”.
The Court also ruled that the creation and sale of an e-Residence published by the official document “Sango Genesis Paper” and on the site “Sango.org” “is unconstitutional and is canceled pursuant to Article 80 of the Constitution”.
The Constitutional Court also recalled on Monday that its decisions “are not subject to any appeal” and that they “are binding on the public authorities, on all administrative and judicial authorities and on any natural or legal person”.
It should be noted that it was on July 3 that the authorities of the Central African Republic (CAR) unveiled a new cryptography project, dubbed “Sango Coin”.
“I always wanted to leave something valuable as a legacy for future generations. My vision is to educate young people to embrace new technologies, as well as cryptocurrencies,” President Touadera said at the inaugural ceremony.
The creators of Sango coin had claimed that features of the project include an online residency and citizenship program.
“Foreign Sango coin investors will be able to purchase Central African citizenship for $60,000 in cryptocurrencies provided they hold equivalent Sango coins for at least 5 years. They will also be able to buy the “e-residence” for 6,000 dollars in Sango-coins held for at least 3 years. They will finally be able to buy a 250 square meter piece of land for 10,000 dollars in Sango-coins held for 10 years,” the creators of the Sango coin said on July 3.
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