TwoCents | Legal Risks of Cryptocurrencies on State Sovereignty; A Case Study of Uganda.

Last Week on the 17th of this month, I and a coat author of mine presented our paper in the Makerere Law Journal Symposium (MLj symposium.) The paper is titled, "Legal Risks of Cryptocurrencies on State Sovereignty; A Case Study of Uganda." Very interesting paper to present especially with the current crypto crisis -. A bear market, The Terra failure, etc. Our arguement was that where a state fails to control it's monetary policy, it's sovereignty gets into question as it's financial strength grows illegitimate. Crypto and Blockchain is here to stay we argued, its auditability and accountability strength can save us corruption and embezzlement. It's adoption can save us financial inclusion of the unbanked etc. We also recognized the risks such as consumer protection risks and we made a case for regulation of crypto assets. The regulation can be two fold, institutional regulation especially in referrance to Crypto Currency exchanges and any promoters of a crypto community, principle regulation in relation to consumer protection risks and corporate governance related principles for certain crypto / blockchain communities. The symposium was held at Makerere University School of Law...Any thoughts on this are welcome.

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