High Stakes: CAR’s Crypto Caper and the Threat of Monarchical Monopoly! 😂

by

A recent report proclaims with dramatic flair that the Central African Republic’s dalliance with “opaque crypto endeavours” is leaving the country tantalizingly vulnerable to the machinations of foreign miscreants, just as they elegantly dance towards the December 28th election with nary a care for sovereignty.

An Alarming Prognosis of “State Hijack”

The Central African Republic is reportedly skidding perilously close to a “grave risk of state hijack” by foreign rogues, due largely to its rather enthusiastic embrace of murky cryptocurrency escapades. Such is the conclusion of a report released on Dec. 17, its tone one of melodramatic indignation.

The findings from the Global Initiative Against Transnational Organized Crime (GI-TOC) suggest that President Faustin-Archange Touadéra might be trading off national sovereignty with a discreet little clique of insiders and shadowy networks, as he competes for a third term in the upcoming December 28 elections. Touadéra, an enthusiastic advocate of digital wealth as the nation’s leap to prosperity, stands accused of a rather Faustian bargain.

Since the year of grace 2022, the Central African Republic (CAR) has embarked on a series of crypto ventures, initially with the embrace of bitcoin (BTC) as legal tender-a move promptly reversed by the stern hand of the International Monetary Fund (IMF) and the watchful regional authorities.

The government, undaunted, turned its attention to Sango Coin, a national cryptocurrency, envisioned to fund a so-called “Crypto City” and sell citizenship and land to intrepid foreign investors. Alas, per GI-TOC’s account, the Sango Coin “flop” sold less than 10% of its illustrious tokens. Thus in early 2025, the government launched a second foray-the CAR meme coin, a veritable escapade into digital glorification.

Styled as an avant-garde experiment for national development, CAR sought to tokenize land in Bosongo near the capital, accessible via the Solana blockchain. The admirable transparency of these sales and their fiscal funnels into the national coffers, however, await the scrutinizing eyes of all involved.

Digital Dreamscapes vs. Grounded Realities

Analysts cited in a Reuters report reveal a jarring disconnect between grandiose digital aspirations and the tangible infrastructure. A mere 15.7% enjoy electricity while less than 40% belong to the mobile subscription set, leaving meaningful citizen participation in this grand scheme an exercise in futility.

“An impoverished populace, battered by mass violence and unrest, is plainly unsuited for crypto conjuring,” decrees the report. Such schemes, it claims, are “tailored to the whims of foreign investors” and criminal organizations in pursuit of shadowy ventures-none more exhilarating than laundering funds or skirting sanctions.

The Bangui government has met these findings with dignified silence yet through clandestine conversations, a well-placed official dismisses these accusations as mere attempts to “discredit” the administration. This defender upholds these crypto jingles as noble innovations against traditional banking “monopolies” and ever-tightening international financial dogmas.

As the elections loom, GI-TOC gazes into its crystal ball and warns of the extension of crypto tokenization to precious mineral lands, invoking imagery of national wealth slipping silently into the hands ready to take advantage. For a nation haunted by decades of strife and still languishing as one of the globe’s most financially forlorn, such ventures may, in fact, entrench oligarchic stature rather than uplifting the masses.

FAQs 💡

  • Why is CAR so widely scrutinized? A GI‑TOC manifesto warns that CAR’s crypto wanderings pose a “grave risk of state hijack” at the hands of foreign rogues.
  • Which quirky crypto adventures has CAR embarked upon? The enthusiasm of the government knows no bounds, pursuing bitcoin, Sango Coin, and the spirited CAR meme coin tied to land tokenization escapades.
  • What makes these schemes stir local controversies? Citizens may jeer due to a glaring absence of transparency and the near impossibility of any electoral engagement amid scarce electricity and mobile access.
  • What ominous predictions do analysts portend before the elections? The prospect of spreading tokenization to mines of gold and diamonds might portend the inevitable surrender of priceless national resources.

Read More

2025-12-19 11:59