Blockchain Association of Uganda Response to the Ministry of Finance on Cryptocurrencies

 

After the public statement made by the Ugandan Ministry of Finance concerning they denouncement of cryptocurrencies as legal tender in Uganda, the Blockchain Association of Uganda has responded to the press statement by the association which in part, reads:

“The public statement on cryptocurrencies by the Ministry of Finance, however has been taken note by the Blockchain Association of Uganda.”

We also believe the statement is an important  factor and step towards the creation of a more  progressive policy framework for cryptocurrency  assets in Uganda.

The Association is excited to share its industry perspective on the Minister’s statement.

The press release highlights the legality of bitcoin and cyrptocurrencies around the world citing from September 2019  which shows that the majority of countries do not have a problem with cryptocurrencies as were all highlighted from the press release.

Below is the association’s acknowledgement of the minister’s statements and indept analysis of some of the misconstrued information regarding cryptocurrencies.

 

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Credit: David C.

 

 

 

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