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Uganda vs United States

Crypto regulation comparison

← Back to map | Uganda | United States
Uganda

Uganda

United States

United States

Restricted
Legal

Uganda restricts cryptocurrency. The Bank of Uganda issued a 2022 circular (NPSD 306) barring licensed payment service providers from facilitating crypto transactions. A 2023 High Court ruling upheld the circular, declaring cryptocurrencies illegal under the National Payment Systems Act 2020. No crypto exchanges are licensed to operate. Informal P2P crypto activity exists despite restrictions.

The United States has the world's most complex crypto regulatory landscape, with overlapping federal and state jurisdictions. The SEC regulates crypto securities and has pursued enforcement actions against exchanges and token issuers. The CFTC oversees crypto derivatives and considers Bitcoin a commodity. FinCEN applies BSA requirements to crypto exchanges as money service businesses. The IRS taxes crypto as property: short-term gains at income tax rates (10-37%), long-term gains at 0-20%. New 1099-DA broker reporting rules take effect from 2025. Multiple states have their own requirements, with New York's BitLicense being the most stringent.

Tax Type None
Tax Type Capital gains
Tax Rate N/A
Tax Rate 0-37%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BOU (Bank of Uganda), CMA Uganda
Regulator SEC, CFTC, FinCEN, OCC, IRS, State regulators
Stablecoin Rules No regulation
Stablecoin Rules Stablecoin legislation actively being developed in Congress; existing oversight by SEC, CFTC, state regulators
Key Points
  • BOU Circular NPSD 306 (April 2022) bars licensed entities from facilitating crypto
  • 2023 High Court ruled cryptocurrencies illegal under National Payment Systems Act 2020
  • Growing crypto adoption, particularly for cross-border transactions
  • No specific crypto taxation rules
  • Financial Intelligence Authority requires VASPs to comply with AML laws
Key Points
  • SEC regulates crypto as securities under Howey test; major enforcement actions (Ripple, Coinbase, Binance)
  • CFTC classifies Bitcoin and Ether as commodities; oversees derivatives markets
  • IRS treats crypto as property: short-term gains taxed at 10-37%, long-term (1yr+) at 0-20%
  • FinCEN requires exchanges to register as MSBs and comply with BSA/AML requirements
  • 1099-DA broker reporting for centralized exchanges effective from tax year 2025
Sources
Sources