BOU warns against trading in digital currencies

By Ssebuliba Samuel

The Bank of Uganda has warned the general public against trading in digital currencies due to the increasing rate of cybercrime globally.

Currently multinational companies have initiated several new digital based investments where people are asked to invest in digital coins that accumulate interests periodically.

Speaking during the 2nd round table discussion on crypto currency, Stephen Mulema the director financial markets at Bank of Uganda said this field is not regulated, making it more risky.

He said that cyber criminals have invaded this virtual business, making it more unreliable and insecure.