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Faustin-Archange Touadera, the president of the Central African Republic, stated on Sunday that the expense of creating bank accounts is why cryptocurrency is the answer to addressing financial exclusion in the country. After becoming the first African nation to recognize bitcoin as legal tender in April, Touadera declared during a launch ceremony for the cryptocurrency effort Sango that “the cash alternative is cryptocurrency.” The formal economy is no longer a viable alternative for us. The…

According to the FSB, the recent instability in the cryptocurrency markets has brought to light their volatility, structural vulnerabilities, and growing connections to the more extensive financial system. The Financial Stability Board (FSB) , a body of regulators, treasury officials and central bankers from the Group of 20 economies (G20) . They want to create a community for central bankers around the world. It would be a place where these group of people can discuss…