Joint Press Statement on Cryptocurrencies and Ponzi Schemes in East Africa

The blockchain associations of East Africa have put out a joint press statement addressing the recent crypto scams and ponzi schemes affecting the East African region.

The blockchain associations that have come together to address the situation include:

Among the topics and questions addressed in the joint press statement include:

  • What is a cryptocurrency?
  • What is a cryptocurrency used for?
  • Are cryptocurrencies legal / Are they regulated?
  • What are Ponzi Schemes and how can they be recognized?
  • How can the public distinguish a cryptocurrency from a ponzi scheme?

All the four associations says they remain committed to guiding the public on blockchain technology and its applications.

Check out the full press release here.