Bank of Uganda – DIGIT INFO

Ugandan High Court Rules to Uphold Central Bank’s Crypto Prohibition

DIGIT — Tue, 25 Apr 2023 11:30:30 +0000

A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition does not amount to an infringement on property rights. Cryptocurrency an […]

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Ugandan central bank U-turns on crypto welcoming firms to regulatory sandbox

DIGIT — Mon, 06 Jun 2022 04:43:26 +0000

The bank advised the Blockchain Association of Uganda (BAU) to sharpen up its knowledge of the sandbox regulations, inviting its members along to further technical discussions.

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Uganda Central Bank Says It Is Open to Crypto Firms Participating in Regulatory Sandbox

DIGIT — Sun, 05 Jun 2022 22:00:38 +0000

The Bank of Uganda (BOU) has hinted that it is open to the idea of crypto firms participating in the regulatory sandbox. The central bank’s position follows its deliberations with a team from the Blockchain Association of Uganda (BAU). BAU Members Asked to Acquaint Themselves Sandbox Regulations The Ugandan central bank has said following talks […]

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Bank of Uganda Reportedly Commences CBDC Study

DIGIT — Fri, 11 Mar 2022 13:00:17 +0000

The Bank of Uganda (BOU) has commenced a study that explores the feasibility of issuing a digital currency. However, an executive with the institution warned that the central bank needed to be clear why it must have this in the first place. Faster Movement of Money The Ugandan central bank is reported to have commenced […]

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Uganda Blockchain Association Endorses Calls for the Creation of Crypto Regulatory Framework

DIGIT — Tue, 10 Aug 2021 09:30:53 +0000

Uganda’s blockchain community welcomes the recent call on authorities to create a cryptocurrency regulatory framework, a board member of the Blockchain Association of Uganda (BAU) has said. The member, Suleiman Murunga, explains that such a framework “will create investor confidence and boost participation by innovators.” Uganda’s FIA Calls for Crypto Framework The remarks by BAU’s […]

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Bank of Uganda Launches Regulatory Sandbox Framework — One Fintech Firm Already Approved

DIGIT — Sun, 20 Jun 2021 11:52:26 +0000

The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment. Already, one firm, M/S Wave Transfer Limited, has received approval to test its quick response (QR) technology under this sandbox arrangement. BOU Launches Regulatory Sandbox for Fintech […]

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Binance Opens Fiat-To-Crypto Exchange in Uganda

DIGIT — Tue, 16 Oct 2018 07:50:56 +0000

On Oct. 15, Binance announced the launch of its fiat-to-cryptocurrency exchange in Uganda. The world’s biggest digital currency exchange said users in the East African country are now able to complete full account verification starting immediately. Deposits and withdrawals of the local fiat currency, the Ugandan shilling, start on Wednesday. Also read: Bitcoin After Death: The […]

The post Binance Opens Fiat-To-Crypto Exchange in Uganda appeared first on Bitcoin News.

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Africa and its Antiquated Banking: Cryptocurrencies The Solution?

DIGIT — Wed, 05 Sep 2018 02:55:03 +0000

Africa has steadily accelerated the switch to modern technologies. But can a continent facing a crisis with antiquated banking technologies, low rate of financial inclusion, poor confidence in the banking system, and high remittance costs become the new battleground for blockchain or cryptocurrency-centred settlements? Also read: Square’s Big Week: Crypto Patent, Shares Leap, and Lightning […]

The post Africa and its Antiquated Banking: Cryptocurrencies The Solution? appeared first on Bitcoin News.

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