Uganda

The Central Bank of Uganda (BoU) has warned citizens against using Bitcoin and other forms of cryptocurrencies for business.

Akon is continuing to expand the planning of his futuristic cities across the African continent. Now, Akon wants to expand the project to Uganda, the Pearl of Africa. But how real are these plans for the African population?

On April 2, Senegalese-American rapper, philanthropist and crypto enthusiast, Akon visited Uganda and met with the President and various entities to discuss possible business opportunities in various sectors. Is this a dream come true for the “One Africa, One Koin” that Akon is preaching?

Being a cryptocurrency supporter is something like a trend now. This has triggered politicians to become crypto-friendly to win the support of people. Did it help them to win elections?

It is more than 10 years since the first cryptocurrency appeared on earth. The emergence of crypto attracted varied reactions from the different countries of the world. Africa, the second-largest continent is especially lagging in crypto trading and mining. What challenges and opportunities lie on the way of crypto mining growth in Africa?

Binance Uganda, an arm of the greater Binance Global has notified all its Ugandan clients on the new date of closure, which is now set for December 15. A Binance user from Uganda, Joel Odota, notified CoinIdol, a world blockchain news outlet, that he received a notification email from the company.

The East African region is increasingly proving itself as a real field of application for new technologies including cryptocurrency and blockchain, showing its wide range of implementation and potential. These include the application of distributed ledger technology (DLT) in the agrifood sector, particularly in the six countries of the East African Community (EAC) which includes Uganda, Kenya, Tanzania, Rwanda, Burundi and South Sudan.

A large number of Ugandan nationals were left crying helplessly after being promised well-paying jobs at a fake cryptocurrency company which abruptly went into rigor mortis with citizens losing over 10 billion Ugandan Shillings (UGX) (approx. $2,715,100).

In an effort to become a strong cryptocurrency and distributed ledger technology hub in Africa, Uganda has issued the first license to create a free zone for Bitcoin, blockchain and other developing technologies. The Uganda Free Zones Authority (UFZA)issued a license to designers and developers to launch a free zone focusing mainly on DLT innovations.