The Ugandan government is reported to be making moves in banning pyramid schemes, which may put additional restriction for cryptocurrency usage and reporting. Ugandan legislators are exploring the role of cryptocurrencies in connection with pyramid scheme frauds that are often found in the country, local newspaper PML Daily reported on Feb. 4. While legislators are…
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The beer conglomerate behind the Budweiser brand is using blockchain to ensure local suppliers in Africa are able to report their income and open bank accounts. AB InBev, the company behind the Budweiser brand, is helping local African farmers to prove their income using blockchain, Yahoo Finance reports on Jan. 21. A blockchain-based system developed…
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Over 5,000 victims of the alleged crypto pyramid scheme Dunamiscoins have petitioned the Ugandan Parliament asking to refund money lost in the scam. Over 5,000 victims of the alleged cryptocurrency pyramid scheme Dunamiscoins have petitioned the Ugandan Parliament asking to refund money lost in the scam. Arthur Asiimwe, the leader of the petitioning group who…
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Ugandan police have reportedly seized Samson Lwanga, one of the directors of the alleged cryptocurrency pyramid scheme Dunamiscoins Resources Limited. Ugandan police have seized Samson Lwanga, one of the directors of the alleged cryptocurrency pyramid scheme Dunamiscoins Resources Limited. As domestic news publication Daily Monitor reported on Dec. 9, the police arrested Samson Lwanga, one…
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An alleged cryptocurrency pyramid scheme in Uganda has fled after defrauding dozens of victims that invested and worked for the scheme. An alleged cryptocurrency pyramid scheme in Uganda has fled after defrauding dozens of victims that invested in and worked for the scheme. Dunamiscoins Resources Limited opened in Masaka last month and started inviting individuals…
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