The Global Initiative Against Transnational Organized Crime (GI-TOC) has issued a report warning that the Central African Republic's (CAR) rapid adoption of cryptocurrency projects could lead to state capture by foreign criminal entities. Released on December 17, the report criticizes the transition from Bitcoin to Sango Coin and the introduction of a new CAR meme coin, highlighting issues of poor transparency and inadequate infrastructure.
The report also expresses concern over the tokenization of mineral rights, suggesting it could result in a long-term erosion of national sovereignty. While the full impact of these developments remains uncertain, the report emphasizes the need for immediate regulatory oversight to prevent potential exploitation and loss of control.
CAR's Crypto Initiatives Risk Sovereignty, Warns GI-TOC Report
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