African authorities need to differentiate between Onecoin and Bitcoin, as well as other cryptocurrencies, rather than always place them together when sending out notes of caution, some Bitcoin enthusiasts in Africa have said.
Their comments come in the wake of a recent Bank of Uganda media campaign warning against investing in Onecoin. Similar to the one issued recently by the Central Bank of Nigeria, Uganda’s top bank says the Onecoin entity is not licensed under the Financial Institutions Act 2004 hence operating outside any regulatory purview.
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