Uganda Bitcoin Regulation

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Uganda Bitcoin Regulation

A UN organization related to criminal justice problems published today a few details about a new meeting on bitcoin and digital currencies with the aim of a Uganda Bitcoin Regulation.

Organized in Kampala on 7th July, the meeting was supported by the United Nations African Institute for the Prevention of Crime and the Treatment of Offenders (UNAFRI), the Bank of Uganda and the University of Birmingham Law School.

Dr. Maureen Mapp of the University of Birmingham Law School who partecipated at the event, explained to CoinDesk that the main goal of that event was establishing a basis for a Uganda bitcoin regulation.

Uganda will be one of the first African countries to regulate bitcoin.

Also, Mapp said the effort grew out of a digital currency research project realized  with the Commonwealth Secretariat that showed her how Ugandan public officials didn’t know anything about the benefits and risks of the use of virtual currencies.

“I was inspired to engage with policy makers and regulators in order to investigate whether states could develop policies and regulation that encourage innovation while protecting the private rights and interests of users of virtual currencies.”

The goal, she explained, was building awareness and creating a good basis for future discussions.

Thanks to the Ugandan central bank and UNAFRI, Mapp began to contact a few stakeholders in Uganda to put together what became the meeting held in Kampala.

Among the outcomes of the meeting is a think tank dedicated to the “technological, policy, pluralist, ethical and legal issues” about digital currencies, with the organizations and representatives who attended the July meeting.

Those involved also developed a draft for future discussions between private and public stakeholders, which was published earlier this month by UNAFRI.

Next steps will include the creation of a second meeting, set to take place on the same date in 2017.

“The legal and regulatory environment is moving towards embracing the technology so as to harness its benefits and to promote innovation,” she explained.


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Amelia Tomasicchio
Amelia Tomasicchio

Amelia Tomasicchio is a content writer and marketer of Bitcoin-related news and fintech startups. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

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