Jun 07, 2022 11:35 AM (GMT+8) · EqualOcean
[the Central Bank of Uganda has changed its attitude towards the cryptocurrency industry and encouraged relevant enterprises to enter its regulatory sandbox] on June 6, the Central Bank of Uganda was open to the idea of cryptocurrency enterprises participating in its regulatory sandbox, and invited members of Uganda blockchain Association (BAU) to share their knowledge with the central bank. Recently, the central bank mentioned a meeting between the two sides in early may in a letter to Kwame rungunda, chairman of Bau. The central bank also suggested that the encryption advocacy organizations in the country familiarize themselves with the sandbox regulations again before making time for further technical discussions. In June, 2021, the Bank launched a regulatory sandbox framework, allowing fintech companies to test "innovative financial solutions" in a controlled environment, hoping to promote the development of domestic electronic payment and other digital financial services. The recent letter seems to be a 180 degree turn in the attitude of the Bank of Uganda towards cryptocurrency. In late April, the bank issued a warning on cryptocurrency and sent a notice to all payment service providers in the country, saying that allowing encrypted transactions opened the door to money laundering and fraud in the country. It added that any provider that facilitates cryptocurrency transactions, such as banks or fintech companies, will have their financial licenses revoked. Cryptocurrencies are not prohibited in Uganda and can still be purchased, held and traded. However, cryptocurrency is not regulated and no company has yet obtained a digital asset license to operate in the country. （Cointelegraph）

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