Skip to content

Binance CEO meets with President of Central African Republic to discuss crypto adoption

The Central Africa Republic is still attracting the cryptocurrency world after officially declaring Bitcoin (BTC) legal tender. Since the new legislation, the country’s leaders have engaged different crypto stakeholders as part of utilizing the sector’s benefits. 

In this line, the country’s president Faustin-Archange Touadéra met with Changpeng Zhao (CZ), CEO of Binance cryptocurrency exchange to discuss different elements of crypto including adoption. 

The meeting was confirmed by Zhao through a tweet posted on August 5 where he revealed that they discussed matters of education and crypto regulation framework. 

CAR Bitcoin adoption 

Following CAR’s adoption of Bitcoin as a legal tender, Touadéra has increasingly focused his efforts on pushing for crypto adoption after the country emerged as the first in Africa and the second globally to adopt Bitcoin after El Salvador. 

As reported by Finbold, the head of state maintains that Bitcoin adoption is in the right direction especially during challenging economic times. 

Elsewhere, Zhao has been on a global push aiming to promote crypto adoption in various counties. For instance, in July 2022, Zhao revealed that he held meetings with the presidents of Senegal and Ivory Coast as part of his initiative aimed at driving up the adoption of cryptocurrency in Africa and beyond.

Although questions have been raised regarding Africa’s readiness to adopt cryptocurrencies, CZ maintains that the region is ready and has since partnered with platforms like Jokkolabs, one of Africa’s first social impact hubs.

Through the collaboration, Binance seeks to launch a blockchain awareness and education program across Francophone Africa.

CZ’s global crypto advocacy 

It is worth noting that Zhao’s advocacy for cryptocurrencies comes amid criticism of Binance over its failure to put in place comprehensive money laundering policies. Consequently, Zhao’s meetings with leaders are viewed as initiatives to put Binance in good books within jurisdictions where the exchange is popular. 

One notable meeting took place between the Binance founder and Turkish Finance Minister Nureddin Nebati and centered around the blockchain ecosystem and cryptocurrencies. 

Notably, Binance had previously been fined by Turkish authorities $750,000 for failing to observe new regulations. 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.