The Financial Intelligence Authority of Uganda (FIA) has amended the 2013 Anti-Money Laundering Act through an act of Parliament to include Virtual Asset Service Providers (VASPs) as Accountable Persons.
The amended Act now means that cryptocurrency exchanges and virtual assets providers are now subject to the supervision and monitoring by the FIA.
The Financial Intelligence Authority (FIA) is a Ugandan government agency mandated to detect and deter money laundering and terrorist financing by providing information relating to financial transactions to law enforcement and competent authorities to support investigation and prosecution of money laundering, terrorist financing, and other related crimes.
The AML Act 2013 also designates certain businesses and professions as Accountable Persons. In this case, VASPs are now classified as such.