The Constitutional Court of the Central African Republic banned the sale of citizenship and residency for Sango Coin

The Constitutional Court of the Central African Republic (CAR) said that the sale of citizenship, residence and land for the state cryptocurrency Sango Coin is contrary to the country’s constitution.

Sango Coin was introduced in July this year. The country’s authorities launched a program to use the state cryptocurrency for various purposes, including the sale of “electronic residence” and land. The cost of citizenship when paying with Sango Coin will be $60,000, and residency will cost $6,000.

Built on top of the Bitcoin blockchain, Sango Coin is a kind of second layer solution for the first cryptocurrency network. But the CAR’s highest court banned the use of CBDC to pay for residency and citizenship because it “is not in accordance with the constitution, since nationality has no market value.”

Note that the launch of Sango Coin was not very successful – the authorities hoped to sell the state cryptocurrency in the amount of $21 million, but a few hours after the launch they received only 5% of the planned amount. At the moment, out of the available 210 million Sango Coins, only about 15 million have been sold.

Earlier, the head of the Bank of Central African States proposed the creation of a common digital currency to modernize payments and expand the access of African citizens to financial services.