[2016-11-24]Uganda Could Become First African Nation To Adopt Bitcoin Regulation

[WishICanTurnBackTime]

Uganda Could Become First African Nation To Adopt Bitcoin Regulations

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.

http://afkinsider.com/135498/uganda-become-first-african-nation-adopt-bitcoin-regulations/

[Gahs]

It's good to know that Africa is also catching up in the bitcoin game however, I do not yet see a mass adoption in 3rd world countries because 1btc is quite expensive for them. Lots of workers do not earn up to $700/month.

[Kprawn]

It's good to know that Africa is also catching up in the bitcoin game however, I do not yet see a mass adoption in 3rd world countries because 1btc is quite expensive for them. Lots of workers do not earn up to $700/month.

You do not have to buy whole bitcoins, so the price is not an issue. Today, 1 UGX = 0.000275710 USD { UGX - Ugandan Shilling }

The African countries are already used to M-Pesa, and the benefits that has for their people. Now they just added a global currency that

would bring new job opportunities and also cheaper micro payments for their people. Good for them.... 

[aigeezer]

the digital currency, which is owned by BitPesa of Kenya

Something seems to have been garbled in translation, or do they actually think...