Uganda has moved closer to formal crypto regulation as the central bank outlines the core structure guiding its new framework.
The Bank of Uganda Governor, Dr. Michael Atingi-Ego, has outlined the key foundations shaping Uganda’s upcoming crypto laws. Speaking at the Kampala Blockchain Summit 2025, he stressed that regulation must balance innovation with financial stability to prevent underground activity while protecting consumers.
The Governor warned that virtual assets pose risks due to weak governance, poor customer checks, and unregulated shadow systems. He revealed that 84.5% of Uganda’s crypto activity occurs on decentralized platforms, far above the regional average, making oversight and consumer redress extremely difficult.
He noted that stablecoins in Uganda are mostly used for remittances and cross-border payments, and their impact “is too consequential to ignore.”
Uganda’s new framework will rest on six pillars: strict licensing, client asset protection, AML/CFT compliance, cybersecurity, market integrity, and real-time data transparency. He said Uganda should follow Kenya’s model, splitting oversight between the central bank, capital markets regulator, and the Financial Integrity Authority, coordinated through the Financial Sector Stability Forum.
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