By Andrew Irumba
Spy Uganda recently revealed that the Minister for Finance Matia Kasaija issued a public warning to all Ugandans investing in Cryptocurrency and Crypto Assets, that they risk losing their money.
Kasaija warned that since Cryptocurrency companies are not regulated by the Central Bank and government at large, Crypto assets are high risk ventures and whoever invests in them does so at their own risk.
However, the operators of Cryptocurrency under their umbrella body Blockchain, have issued a stament assuring minister Kasaija that they are ready to be regulated by government, because this will not only streamline but also boost the spirit of investment among Ugandans.
Their statement, in which they reveal several countries in the world dealing in Cryptocurrency reads thus; “The Blockchain Association of Uganda has taken note of the public statement on cryptocurrencies by the Ministry of Finance.
We believe the statement is an important step in the direction of creating a progressive policy framework for crypto assets in Uganda
The Association is delighted to share its industry perspective on the Minister’s statement.
The Blockchain Association of Uganda is an umbrella body of technology, legal, academic and industry experts working with blockchain technology and its applications like cryptocurrencies, who are committed to setting correct industry standards, to ensure that Uganda is not left behind, but can take a lead role in yet another global technology wave.
We thank the Ministry of Finance for mainstreaming this conversation, and look forward to further dialogue, with the aim of sharing industry expertise to ensure that Uganda can redeem the opportunity at hand, and urgently put in place well considered policy frameworks for blockchain technology and crypto assets, while in turn, correctly mitigating the due risk.”