{"id":115888,"date":"2025-11-28T07:47:36","date_gmt":"2025-11-28T07:47:36","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2"},"modified":"2025-11-28T08:54:40","modified_gmt":"2025-11-28T08:54:40","slug":"bou-governor-urges-strategic-virtual-assets-regulation-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2","title":{"rendered":"Bou Governor Urges Strategic Virtual Assets Regulation"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Uganda. <\/strong><\/span><b>The Governor of the Bank of Uganda Michael Atingi-Ego has urged the country to adopt a rapid but carefully calibrated regulatory framework for virtual assets, warning that without strategic action, Uganda risks falling behind regional neighbors such as Kenya.<\/b><\/p>\n<p>The Governor delivered his remarks during the Kampala Blockchain Summit 2025, held at Four Points by Sheraton, emphasizing that the country stands at a \u201cpivotal moment\u201d in shaping the future of digital finance.<\/p>\n<p>In his keynote address, Atingi-Ego stressed that the question for Uganda is no longer whether blockchain and cryptocurrency technologies are important, but whether the country will be an architect of their adoption or merely a user of systems designed elsewhere.<\/p>\n<p>\u201cWe meet at a moment when the decisions we make today will shape the structure, the safety, and the competitiveness of our economy for decades to come,\u201d he said, urging stakeholders to act with both intelligence and strategic focus.<\/p>\n<p>The Governor acknowledged that Uganda\u2019s cautious approach toward cryptocurrencies and blockchain had sometimes been misunderstood as resistance. He clarified that regulators have been acting to protect citizens while carefully studying global best practices.<\/p>\n<p>\u201cOur stance has not been one of obstruction, but of protection. What is conservative about protecting millions of citizens from products they may not fully understand?\u201d he asked. He added that Uganda must accelerate its digital finance capabilities to avoid remaining in what he described as the \u201cfinancial stone age.\u201d<\/p>\n<p>Highlighting current trends, Atingi-Ego noted that 84.5 percent of virtual asset activity in Uganda occurs on decentralized platforms, a figure well above the Sub-Saharan African average. This, he warned, creates significant supervisory blind spots and leaves consumers exposed to fraud. Stablecoins, he observed, are widely used for remittances but carry serious macroeconomic risks.<\/p>\n<p>Turning to regional developments, the Governor pointed to Kenya\u2019s recent regulatory advancements as a model for Uganda. He noted that Kenya has begun licensing its first virtual asset service providers, while Uganda has yet to establish a formal framework.<\/p>\n<p>However, he framed Kenya\u2019s progress as an opportunity rather than a setback, suggesting that Uganda can learn from its neighbor\u2019s experience to implement a framework that is intelligent, strategic, and world-class.<\/p>\n<p>\u201cBeing second to legislate does not mean accepting second-tier status,\u201d he said.<\/p>\n<p>Atingi-Ego outlined the essential pillars that should underpin Uganda\u2019s virtual asset legislation, including licensing standards, client asset protection, anti-money laundering compliance, cybersecurity, market integrity, and transparency.<\/p>\n<p>He emphasized that these are not theoretical concepts but practical requirements for jurisdictions seeking to safely integrate virtual assets into their financial systems.<\/p>\n<p>He also encouraged innovators to engage with existing regulatory sandboxes under the Bank of Uganda and the Capital Markets Authority, describing them as critical spaces for learning before formal legislation is introduced.<\/p>\n<p>The Governor issued a direct challenge to all stakeholders. To the industry, he called for constructive engagement, the building of trustworthy businesses, and the sharing of expertise.<\/p>\n<p>Regulators were urged to build capacity, avoid reflexive rule-making, and coordinate tightly, ensuring that regulation is proportionate, rigorous, and evidence-based.<\/p>\n<p>Consumers, he reminded, must exercise caution, avoid schemes promising guaranteed returns, and invest only what they can afford to lose.<\/p>\n<p>Returning to the summit\u2019s theme of positioning<\/p>\n<p>Uganda as a regional hub for virtual assets, Atingi-Ego asked a pointed question: how can Uganda attract firms to Kampala when Nairobi is already ahead?<\/p>\n<p>He argued that Uganda must differentiate itself through high-quality legislation, world-class supervisory capacity, and a deep ecosystem of talent and infrastructure.<\/p>\n<p>\u201cUganda does not need to follow. Uganda is ready to lead\u2014but only if we move with urgency and quality simultaneously,\u201d he said.<\/p>\n<p>Atingi-Ego concluded by emphasizing that the choices made today will shape Uganda\u2019s digital economy for generations.<\/p>\n<p>\u201cLet us build a digital financial future worthy of Uganda\u2019s creativity, talent, and ambition,\u201d he said, calling on all stakeholders to act decisively.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Uganda<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Uganda. The Governor of the Bank of Uganda Michael Atingi-Ego has urged the country to adopt a rapid but carefully calibrated regulatory framework for virtual assets, warning that without strategic action, Uganda risks falling behind regional neighbors such as Kenya. The Governor delivered his remarks during the Kampala Blockchain Summit 2025, held at [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":115887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234],"class_list":["post-115888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-uganda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bou Governor Urges Strategic Virtual Assets Regulation - Uganda<\/title>\n<meta name=\"description\" content=\"The Governor of the Bank of Uganda Michael Atingi-Ego has urged the country to adopt a rapid but carefully calibrated ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bou Governor Urges Strategic Virtual Assets Regulation\" \/>\n<meta property=\"og:description\" content=\"The Governor of the Bank of Uganda Michael Atingi-Ego has urged the country to adopt a rapid but carefully calibrated ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-28T07:47:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-28T08:54:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2025\/11\/sm_1764307244.601993.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Bou Governor Urges Strategic Virtual Assets Regulation\",\"datePublished\":\"2025-11-28T07:47:36+00:00\",\"dateModified\":\"2025-11-28T08:54:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2\"},\"wordCount\":657,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2025\/11\/sm_1764307244.601993.jpg\",\"keywords\":[\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-governor-urges-strategic-virtual-assets-regulation-2\",\"name\":\"Bou Governor Urges Strategic Virtual Assets Regulation - 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