Uganda's central bank weighs issuance of digital currency

A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration

KAMPALA (Reuters) - Uganda's central bank is considering whether to issue a digital currency and has not banned cryptocurrencies, but has concerns about risks from the technology including consumer protection and financial inclusion, a senior bank official said on Friday.

"Bank of Uganda is currently doing preliminary studies on whether or not a central bank digital currency should be considered ... and especially explore what policy objectives it would address," Andrew Kawere, the bank's director for national payments, told Reuters in an interview.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Tech News

OpenAI delays launch of online store for custom chatbots
EU backs rules to protect digital devices from cyber threats
Digital DNA of smart cities
Machined for Malaysia: This AI startup is putting local flavour into large language models
Serbia's Vucic says electric Fiat Panda model to be produced in Serbia
AstraZeneca, AI biologics firm Absci tie up on cancer drug - FT
Schools should teach children about using AI, IT professionals say
Researchers sound alarm over metaverse's potential to cause harm
Generative AI helping hackers mount more sophisticated attacks
Review: ‘Persona 5 Tactica’ successfully adapts beloved series to strategy genre

Others Also Read