The Ugandan Central Bank (Bank of Uganda, BoU), considers illegal the use of crypto-currencies in the country, announced Andrew Kawere, Director of the national payment system at the BoU, warning the population, once morest the use of these means of payment.
The Central Bank recalls that “no license has been granted to any company in the country to offer cryptocurrency services”, adding that “all structures offering these services on its territory act outside any legal framework” .
“The BoU has taken note of press articles and advertisements advising the public to convert cryptocurrencies to mobile money and vice versa (…) We would like to inform you that the Bank has not granted any license to any institution to sell crypto-currencies or to facilitate their trade”, recalls the Central Bank.
Already in 2019, Ugandan Minister of Finance, Matia Kasaija had hinted that his country does not recognize cryptocurrencies as legal tender, warning that “holders of cryptocurrencies in Uganda, do not benefit from any consumer protection s ‘they lose the value assigned to their cryptocurrency holdings’.
Until this date, only two countries, El Salvador and the Central African Republic “have officially adopted a cryptocurrency (Bitcoin) as their official currency”.
