Uganda: 'Desist From Facilitating Trade in Crypto Assets' Uganda Warns Banks, Fintechs

Uganda's financial regulator has warned payment service providers from enabling cryptocurrency transactions in the East African country.

The Bank of Uganda, in a letter, said it had not licensed any payment provider or operator, including banks or fintechs, to sell or facilitate trade using crypto -- while also making reference to the government's stand that crypto is still not legal tender. Payment providers found selling or facilitating trade will have their licenses revoked, the bank said.

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