Uganda has been a hotbed for cryptocurrency scams, largely due to the legal ambiguity surrounding the use of digital currencies. The country has had its fair share of crypto scams, with numerous individuals falling prey to fraudulent schemes. This has been largely caused by the lack of clear regulations and guidelines on the use of cryptocurrencies, creating a fertile ground for unscrupulous individuals to exploit unsuspecting investors. According to a report by the Blockchain Association of Uganda, the country has seen a significant increase in crypto scams in recent years. The report revealed that in 2019 alone, Ugandans lost over…
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