Uganda is clamping down on crypto transactions ...Middle East

Quartz - Economy
Uganda is clamping down on crypto transactions
The Ugandan government is starting a countrywide crackdown on digital payment providers facilitating cryptocurrency businesses in the country this week.The Bank of Uganda (BoU) issued a stern warning to all payment service providers, including mobile money operators, saying allowing crypto transactions opened the country to fraudulent deals, money laundering, sale of illicit goods, and online scams.In a circular dated Apr. 29, BoU said it was concerned that advertising agents have been marketing mobile money for crypto transactions and vice versa, an illegal business in the country.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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