Post
Topic
Board Bitcoin Discussion
Re: Uganda says cryptocurrency is risky
by
vladimirhf
on 02/07/2019, 04:34:45 UTC
Maybe I missed something, but I didn't read anything saying about they are against crypto. He only stated the risk involved. As central banks it's just normal to warn people about the dangers and risk on investing because there are no safety nets and not regulated, just like in Uganda.

So I wouldn't take it as a negative statement though, just saying.

exactly, most people are arguing on the headline Tongue

what they really said:

“[...] online cryptocurrency businesses are not regulated at the moment and therefore carry a significant risk of loss of savings, with no recourse to protection or insurance by government, like is the case with regulated financial institutions such as commercial banks.”

It's true and they could add that many operators mislead people into ponzi schemes.