Binance Boss Talks Crypto Adoption And Regulation With President of Central African Republic

Binance Boss Talks Crypto Adoption And Regulation With President of Central African Republic

ETH News

Crypto adoption

Summary:

  • Binance CEO Changpeng Zhao met with Faustin-Archange Touadéra, the president of the Central African Republic.
  • The pair met this week to discuss crypto adoption and crypto regulations among other relevant matters.
  • CAR recently adopted Bitcoin and launched the Sango sidechain project.
  • CZ recently met with the Ivorian president to discuss similar topics, as reported.
  • Data shows that crypto has emerged as a hot topic across Africa in recent months. Five African countries ranked in the top 20 on Chainlysis’ Global Crypto Adoption Index.

Changpeng Zhao, the CEO of leading crypto exchange Binance met with the president of the Central African Republic to discuss digital assets shortly after the country adopted Bitcoin on a national level and launched a blockchain-power project dubbed Sango.

Zhao and President Faustin-Archange Touadéra held talks on Friday. The meeting was confirmed by CZ himself who tweeted about the event to his 6.7 million followers on Twitter. Crypto regulations and adoption were chief among the topics discussed, per Zhao’s post.

The pair also talked about education and investment strategy.

Notably, CZ’s visit comes shortly after the country announced its controversial decision to adopt Bitcoin (BTC). 

Despite stiff warnings from financial regulators like the IMF and the World Bank, CAR proceeded with its BTC legalization and also launched Sango, a blockchain-powered initiative with a token component. The nation also approved BTC as a reserve asset, EthereumWorldNews previously reported. 

Binance Chief Meets With Leaders To Drive Crypto Adoption

Friday’s meeting with President Faustin-Archange Touadéra marks the second African leader CZ has met with this year. Zhao also held talks with the Ivorian president back in July. 

These visits are supposedly strategic as Africa has emerged as a hotspot for cryptocurrencies. Chainlysis ranked five African countries including Nigeria and Kenya in its top 20 on its Global Crypto Adoption Index report.