PRESS STATEMENT: Blockchain Association of Uganda Response to the Ministry of Finance on Cryptocurrencies

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[PRESS RELEASE]

The Blockchain Association of Uganda has responded to the Ugandan Ministry of Finance on the public statement they made where they denounced cryptocurrencies as legal tender in Uganda.

The press statement by the association, in part, reads:

“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 press release highlights the legality of bitcoin and cyrptocurrencies around the world as of September 2019 showing that the majority of countries do not have a problem with cryptocurrencies.

The association has also gone ahead to acknowledge the minister’s statements and demystified some of the misconstrued mentions regarding cryptocurrencies below:

You can check out the full press release here.

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