Central African Republic’s Crypto Experiment ‘Riddled With Red Flags,’ Says Report#

The Central African Republic’s ambitious push into crypto is once again under scrutiny, with a new report warning that the experiment is riddled with red flags and could be doing more harm than good. What was once promoted as a bold move toward financial inclusion now looks increasingly fragile, opaque, and risky.

According to the report, one of the biggest concerns is lack of transparency. Key decisions around crypto initiatives, token issuance, and partnerships have reportedly been made without proper public oversight or clear accountability. That raises serious questions about who truly benefits from these programs ordinary citizens or a small group of insiders.

Another major issue is institutional weakness. The CAR struggles with limited regulatory capacity, fragile governance structures, and low digital literacy. Introducing complex crypto systems in such an environment creates opportunities for misuse, fraud, and capital flight, rather than broad-based economic growth.

The report also highlights fears that crypto projects could become tools for elite enrichment or foreign criminal networks, especially if safeguards around custody, auditing, and compliance remain weak. Instead of empowering citizens, poorly designed crypto initiatives may expose state assets and public funds to heightened risk.

In short, the warning is clear: without transparency, strong institutions, and clear rules, crypto experimentation in the Central African Republic risks becoming a costly lesson rather than a success story.