The Cobac decision, the Cemac banking commission, is very clear: banking and financial establishments can only use the CFA franc and conventional currencies issued by central banks, and all operations carried out or rejected in cryptocurrencies must be reported to it.

This is a first regulatory action to counter the Central African Republic's adoption of the framework law on cryptocurrencies. Bangui wants to use them to attract investors and bolster its coffers, by authorizing their convertibility. A very complex operation in practice.

Desire to "mine" in Dubai

According to press reports, President Touadera was in Dubai last weekend to launch a cryptocurrency "mining" company, according to the technical term. He is also receiving support from an asset management platform based in New York.

On the eve of this Cobac decision, Jeune Afrique had revealed that the president of the Bank of the States of Central Africa, Abbas Mahamat Tolli, had written to Central African authorities to express concerns about a possible monetary destabilization, leaving hanging the threat of a ban on the Central African Republic.

►Also read: World Bank urges Central African government to reform