Central African Republicsaid that it has delayed listing the national cryptocurrency due to current market conditions.
Filed for bankruptcy about a month ago FTX The effects of the crisis spread to the sector continue to expand. After the collapse of the crypto exchange, rising interest rates and fears of recession pushed companies, investors and even countries to make new plans. The Central African Republic has also decided to postpone the cryptocurrency issue.
Central African Republic Delays Listing of Cryptocurrency Sango
The Central African Republic, which accepted Bitcoin (BTC) as a legal tender in April, said in a statement on Monday; It said it delayed listing the national cryptocurrency Sango, citing current market conditions and marketing reasons.
According to a statement posted on the cryptocurrency’s official Telegram channel, Sango Coin ‘s plan to be listed on as-yet unspecified crypto exchanges was shelved until the first quarter. Additionally, an update was delayed that would allow crypto holders to sell up to 5 percent of their untradable tokens, which are currently locked for a year.
Calculations by Reuters, based on data on the Sango website, show that only $1.66 million worth of Sango was sold after meeting about 7.9 percent of the first sales target and just 0.01 percent of the second.