Herve Ndoba reportedly wants the regional central bank to establish a common legal framework for regulating cryptocurrencies as well. digitalcurrency bitcoinlaw
Call for Creation of Common African Digital Currency, Kenyan Activists Turn to Crypto Funding, Ghana on the Brink
In Bitcoin.com News’ inaugural newsletter featuring the biggest crypto and economic news stories from Africa, the head of an African regional central bank, Herve Ndoba, implores the bank’s board to introduce a common digital currency. At the same time, the regional bank warned that the Central African Republic’s bitcoin law is incompatible with regional laws. Meanwhile, Kenyan activists have said cryptocurrencies can potentially create new ways for young people to earn.
The Central African Republic’s Bitcoin Law Compels Head of Regional Central Bank to Call for Creation of Common Digital Currency The head of the Bank of Central African States , Herve Ndoba, has told the regional central bank’s board that it must create a common digital currency which will be used by six countries belonging to the Central African Monetary Union . Ndoba reportedly wants the BCAS to establish a common legal framework for regulating crypto as well.
According to some Kenya-based activists, raising funds through cryptocurrency and non-fungible token sales is not only faster but less costly as well. The activists added that digital currency also has the “potential to create new ways for young people to earn, spend, save and send money.
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