Ugandan Finance Minister urges citizens of the country to stay away from cryptocurrencies

According to Daily Monitor, the Uganda Ministry of Finance, Planning and Economic Development and the Central Bank urged Ugandan citizens to stay away from cryptocurrencies, saying the government does not recognize any cryptocurrency as legal tender and does not allow cryptocurrencies in Uganda. On Monday, Uganda’s Minister of Finance, Planning and Economic Development Matia Kasaija said at a press conference: “The government has noticed the use, possession and trading of cryptocurrencies in Uganda. The Ugandan government does not recognize any cryptocurrency as legal. Currency. The government has not authorized any organization to sell cryptocurrencies or cryptocurrency transactions in Uganda, so these organizations are not regulated by the government or any of its agencies."