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Crypto Regulation in Uganda

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.

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Uganda

Uganda

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.

Tax Type None
Tax Rate N/A
Exchanges No No
Mining Yes Yes
Regulator BOU (Bank of Uganda), CMA Uganda
Stablecoin Rules No 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
Sources

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