Touadéra’s promise of land and citizenship in exchange for sango coins has apparently been deemed unlawful by the Central African Republic’s constitutional court. Due to the fact that “nationality has no market value,” the court has ruled that the sango-coin-for-citizenship scheme must end.
Investors in Sango Coins cannot be solicited to purchase land or mineral rights.
A constitutional court in the Central African Republic (CAR) has declared that the government’s plan to provide full citizenship to investors in its sango coin cryptocurrency is unlawful, a decision that could spell the end of the country’s crypto ambitions. The court also found it unlawful for the government to provide sango coin buyers with access to land and minerals like gold.
After a court ruled that “nationality has no market value,” President Faustin-Archange Touadéra’s government could no longer guarantee citizenship in exchange for $60,000 in sango coins.
The government has publicly stated its respect for the court’s ruling.
In response to the verdict, Albert Yaloke Mokpeme, a spokesman for the CAR presidency, allegedly stated the administration will explore alternative methods of providing land and citizenship to those who retain sango coins. What he actually stated was:
We are bound by the court’s ruling and are exploring alternative methods of enticing investors with the promise of land and citizenship.
President Touadéra, who has frequently tweeted about his government’s aspirations, has not made a statement as of this writing. However, more than a month after the token auction began, the website tracking sango currency sales shows that there are more than 194 million unsold tokens.