- Published: Friday, 25 November 2016 09:16
- Sourced by SolutionsTeam
Uganda could become the first African nation to adopt legal regulations in the use of bitcoin in monetary transactions after hosting an event focused on the policy guidelines, legal and social-cultural issues on the use of crypto-currencies on the continent. The Ugandan government has left the digital currency, which is owned by BitPesa of Kenya, largely un-regulated since its entry into the region’s second biggest economy in November, last year. “The legal and regulatory environment is moving towards embracing the technology so as to harness its benefits and to promote innovation. Another concern is how to mitigate any risks in order to protect the public interests, but without stifling innovation,” Maureen Mapp, a teaching fellow at the University of Birmingham Law School who spearheaded the event, told CoinDesk.