Uganda vs Yemen
Crypto regulation comparison
Uganda
Yemen
Restricted
Restricted
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.
Yemen has a restrictive environment for cryptocurrency due to ongoing conflict and fragmented governance. The Central Bank has warned against crypto use. International sanctions further restrict access.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
Yes
Mining
No
Regulator
BOU (Bank of Uganda), CMA Uganda
Regulator
Central Bank of Yemen
Stablecoin Rules
No regulation
Stablecoin Rules
No stablecoin regulation
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
- Central Bank has warned against cryptocurrency use
- Ongoing conflict limits regulatory development
- International sanctions restrict access to crypto platforms
- No specific cryptocurrency legislation
- Very limited crypto infrastructure