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A constitutional court in the Central African Republic has reportedly ruled that the Touad\u00e9ra government\u2019s offer of land and citizenship to buyers of the sango coin is unconstitutional. The court said the sango-coin-for-citizenship scheme must be stopped because the country\u2019s \u201cnationality has no market value.\u201d<\/strong>\n<\/p>\n \n According to the court, the country\u2019s \u201cnationality has no market value,\u201d hence President Faustin-Archange Touad\u00e9ra\u2019s government must stop promising citizenship to investors that buy sango coins worth $60,000.\n<\/p>\n<\/p>\n \n<\/p>\n \n We respect the court\u2019s decision and we\u2019re now looking at another way to offer land and citizenship to investors.<\/p>\n<\/blockquote>\n \nOffering Land and Minerals to Sango Coin Investors Ruled Unconstitutional<\/h2>\n
\nIn a ruling likely to derail the Central African Republic (CAR)\u2019s crypto ambitions, a constitutional court has ruled that the government\u2019s plan to offer full citizenship to investors in its sango coin cryptocurrency is illegal. In addition, the court said the government\u2019s offer of land and access to minerals such as gold to sango coin buyers is unconstitutional.<\/p>\nGovernment Says It Respects Court\u2019s Decision<\/h2>\n
\nReacting to the ruling, a spokesman for the CAR presidency, Albert Yaloke Mokpeme, reportedly<\/a> said the government will now look for other ways of rewarding sango coin holders with land and citizenship. He said:\n<\/p>\n\n
\nAt the time of writing, President Touad\u00e9ra, who has regularly tweeted about his government\u2019s ambitions, has not issued a statement. On the other hand, the website<\/a> tracking sango coin sales shows that there are over 194 million unsold coins more than a month after the token sale commenced.<\/p>\n