Binance CEO meets with President of Central African Republic to discuss crypto: The Central Africa Republic is still attracted by the world of cryptocurrency after it officially declared Bitcoin (BTC) as legal tender. In the wake of the new law in place, the leaders of the country have involved various crypto players in order to maximize the benefits of this sector.
In this regard President Faustin-Archange touadera, met Changpeng Zhao (CZ), the CEO of the Binance cryptocurrency exchange, to discuss various aspects of crypto, including adoption. It was announced by Zhao via a tweet he posted on August 5, where Zhao revealed that they had addressed issues of education as well as the regulation of crypto.
CAR Bitcoin adoption
Following the adoption of Bitcoin as an official tender, Touadera has increasingly focused his efforts to push for crypto adoption, after CAR was ranked as the first country in Africa and the second in the world to implement Bitcoin following El Salvador.
According to Finbold, Head of State Finbold is of the opinion his position that Bitcoin adoption is moving in the right direction, particularly in difficult economic times.
In addition, Zhao has been on an international campaign to encourage the adoption of cryptocurrency across a variety of countries. In July, for instance, 2022 Zhao admitted that he had meetings together with Presidents Senegal as well as Ivory Coast as part of his campaign to drive greater use of cryptocurrency across Africa and all over the world.
Though there are some questions about the readiness of Africa to embrace cryptocurrency, CZ maintains that the region is prepared and has since joined forces with platforms such as Jokkolabs one of Africa’s very first Social Impact Hubs. Through this collaboration, Binance seeks to launch the blockchain awareness and education program throughout Francophone Africa.
CZ’s global crypto-related advocacy
It is important to note that Zhao’s praise for cryptocurrencies is in response to criticism of Binance for its inability to establish complete policies against money laundering. Therefore, Zhao’s meetings with the leaders are seen as efforts to get Binance in good standing within countries where it is well-known.
A notable meeting was held between Binance co-founder along with Turkish Finance Minister Nureddin Nebati and centered around the blockchain ecosystem as well as cryptocurrencies and blockchain. As an aside, Binance had previously been punished by Turkish authorities for not being able to comply with the new regulations.