The Ugandan Ministry of Finance have once again issued a warning about investing in crypto-assets, over concerns of rising Ponzi and pyramid schemes. Local sources say the Government is now updating its Penal Code Act to outlaw these types of scams
Crypto Ponzi schemes are pilfering Ugandan investors
Uganda’s State Minister of Finance, David Bahati, spoke to Uganda’s Parliament yesterday, and asked the government to publish public warnings to Ugandan investors about the risks of investing in unregulated cryptocurrencies as well as Ponzi schemes.
Mr. Bahati also announced the Expert National Task Force on Fourth Industrial Revolution will continue to advise them on these matters. The group was set up in March 2019 initially to analyze blockchain projects, cryptocurrencies, AI, 3d printing, data analysis, machine learning,…
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