The delay is expected to last a few weeks, and the organization has attributed it to legal and regulatory hurdles that need to be resolved before the coin can be listed.
The Sango Project recently announced that the listing of Sango Coin, the Central African Republic's cryptocurrency, will be delayed for a few weeks due to legal and regulatory hurdles. In a message shared on their Telegram channel on March 31, the project stated that the CAR government has made significant strides in creating the necessary laws and regulations to allow Sango Coin to be listed on cryptocurrency exchanges. However, the project clarified that the listing will be postponed until the frameworks are finalized.
The Sango Project stated that there would be other surprises along with the laws and regulations, and assured that the delay was necessary to ensure the full compliance of Sango with all relevant regulations and to launch their products most securely and responsibly possible.
Project Sango aimed to list its cryptocurrency on exchanges, which was one of its objectives. The project was proposed in the Central African Republic in May 2022 as a crypto hub. This initiative came after the CAR government had passed laws allowing Bitcoin to be used as legal tender alongside the CFA franc by its citizens.
Following the launch of the token and crypto hub in July 2022, Project Sango has been promoting Sango Coin to potential investors by providing investment opportunities for CAR citizenship, a method that was deemed unconstitutional by the country's court system in August.
The project disclosed in December that the token listing would be postponed owing to market circumstances. As per the project's website, the tokens are scheduled to be listed for $0.45.
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