Binance CEO Meets with Central African Republic President to Discuss Cryptocurrency Adoption

The Central African Republic continues to attract the crypto world after officially declaring Bitcoin (BTC) legal tender. Since the new legislation, the country’s leaders have engaged with different cryptocurrency stakeholders as part of utilizing the benefits of the sector.

Along these lines, the country’s president, Faustin-Archange Touadéra, met with Changpeng Zhao (CZ), CEO of cryptocurrency exchange Binance to discuss different elements of cryptocurrencies, including adoption.

The meeting was confirmed by Zhao through a tweet published on August 5 where he revealed that they discussed issues of education and cryptocurrency regulatory framework.

Bitcoin CAR Adoption

Following CAR’s adoption of Bitcoin as legal tender, Touadéra has increasingly focused its efforts on driving cryptocurrency adoption after the country emerged as the first in Africa and second globally to adopt Bitcoin after From El Salvador.

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

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

Although questions have been raised about Africa’s readiness to embrace crypto, CZ maintains that the region is ready and has since partnered with platforms such as Jokkolabs, one of Africa’s first social impact hubs.

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

CZ Global Crypto Advocacy

It is worth noting that Zhao’s defense of crypto comes amid criticism of Binance for failing to implement comprehensive money laundering policies. Accordingly, Zhao’s meetings with leaders are seen as initiatives to put Binance in the good books within jurisdictions where the exchange is popular.

A notable meeting took place between the founder of Binance and Turkey’s Finance Minister Nureddin Nebati and focused on the blockchain and cryptocurrency ecosystem.

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

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