Ugandan ministry of finance issued the following statement: “Most cryptocurrencies are not backed by assets or government guarantees, therefore holders of these crypto-currencies are fully exposed to the risk of loss or diminishing value as the issuers are not obliged to exchange them for legal currency or other value” While not banning the use of crypto is leaves users at the mercy of exchanges if they do decide to use crypto tokens.
Uganda cautions the public ” crypto-currencies are not backed by assets or government guarantees”
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