Bear markets can be incredibly harsh for projects that have little adoption or lack an applicable use case, but projects that dedicate to building regardless of market sentiment tend to succeed in the next market cycle. One project that has seen a noticeable boost in volume, despite the wider-market downtrend is Stratis (STRAX), a blockchain development platform designed to help enterprise businesses establish their own blockchain in a simplified manner. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.365 on June 15, the price of STRAX has rallied 220% to hit a daily high …

These are fraught times for the cryptocurrency and blockchain sector, so it isn’t surprising that industry proponents might seize upon any promising news to help charge flagging markets. A Reuters report out of Uganda last week about a massive gold ore discovery supplied just this kind of fuel. What does the state of gold mining in Africa have to do with the price of global Bitcoin (BTC)? Quite a bit, potentially. Bitcoin has periodically laid claim to being digital gold largely on the strength of its strict 21 million supply limit, which makes it non-inflationary and a good store of …

The Bank of Uganda is open to the idea of cryptocurrency businesses participating in its Regulatory Sandbox, inviting members of the Blockchain Association of Uganda (BAU) to share their knowledge with the central bank. A letter from the bank dated June 1 to the chairperson of the BAU, Kwame Rungunda, referred to a meeting between the two parties in early May. The central bank also advised the country’s crypto advocacy group to brush up on the sandbox regulations before it made time for further technical discussions. We look forward to working with @BOU_Official and all other stakeholders in shaping the …

The rising number of social impact projects using digital art to fundraise for charitable causes marks a powerful development in the nonfungible token (NFT) space. One such project leveraging technology for social good is Orica, an ethical funding platform supporting artists and social impact organisations, or SIOs, to create and sell NFTs. Orica launched Thursday at the Malta AI & Blockchain Summit, or AIBC Malta, and announced its collaboration with an NGO to drop NFTs on its platform and use those funds to build a school in Uganda. WE ARE LIVE @AIBCSummit Join us & celebrate the #launch of Orica, …

The African arm of the company behind the Ignis, Nxt and Ardor blockchains will be launching a multi-country tour to provide blockchain education in the public and private sectors. According to information provided to Cointelegraph, Jelurida Africa said it would begin a blockchain expedition starting with Tanzania’s self-governing state of Zanzibar on Oct. 23 before continuing on to Kenya, Rwanda, Uganda, Zambia, Malawi, Mozambique, Zimbabwe, and Tanzania. The group aims to promote blockchain education with meetups in universities, financial institutions and public offices. The team of distributed ledger technology and smart contract experts said it plans to reach out to …

Uganda’s Financial Intelligence Authority wants the government to come up with clear-cut crypto regulations. According to a report by Ugandan media outlet Daily Monitor on Monday, the FIA has asked the country’s finance ministry to develop a legal framework for cryptocurrency regulations in Uganda. Sydney Asubo, executive director of the FIA, made the call during a meeting with stakeholders over the weekend. According to Asubo, the need for crypto regulations in Uganda has become of paramount importance given the noncompliance of industry participants to the agency’s licensing requirements. Indeed, the FIA amended the country’s Anti-Money Laundering laws to include crypto …

Senegalese-American rapper and businessperson Akon is set to begin building another crypto city — this time in the East African nation of Uganda. According to a report by Uganda’s flagship television network NBS, the country’s government has announced the allocation of land for the project. Akon City in Uganda will reportedly occupy one square mile half the size of the City of London (not to be confused with Greater London, which makes up the majority of the United Kingdom capital). Akon is also building a much larger crypto city in Senegal for $6 billion, with the project covering 2,000 acres …

From the United States to Uganda, allegations of vote rigging have become part and parcel of elections worldwide. Some of these claims are legitimate, with strongmen leaders suppressing the will of the people in a desperate attempt to cling on to power. But in other cases, such accusations are made with little evidence. Fake videos swirl online that paint a picture of manipulation on an industrial scale — depicting a world where ballot papers are dumped in bins. Whether true or false, even the mere suggestion of vote rigging is enough to undermine confidence in the democratic process — dividing …

The world’s largest cryptocurrency exchange is launching a new affiliate program in Africa after announcing the termination of its Uganda-based service. On Nov. 3, Binance officially announced the launch of the Binance Africa Affiliate Program, which aims to promote Binance across the continent. According to the exchange, the new program is open to influencers, crypto enthusiasts and content creators across Nigeria, Ghana, Kenya, South Africa and Uganda. A spokesperson for Binance told Cointelegraph that Binance’s services in Africa include a fiat on-ramp for users from Nigeria, South Africa and Uganda. The exchange also provides peer-to-peer services for users from Kenya. …

The world’s largest exchange, Binance, is delisting its own token for trading against the Uganda shilling (UGX). According to a Sept. 9 announcement, the Binance Uganda platform decided to delist and cease trading on all trading pairs for Binance’s native token, Binance Coin (BNB). The BNB/UGX trading pair will be officially removed from Binance on Sept. 17, while BNB deposits will be terminated on Sept. 10, the exchange said. BNB withdrawals will be still available on Binance Uganda till Nov. 6, Binance noted. Binance provided little information about the reasons behind the delistings, only stating that the BNB/UGX trading pair …

On Feb. 28, the Litecoin Foundation announced a partnership with MeconCash to roll-out Litecoin (LTC) to Korean won withdrawals and remittances from 13,000 ATMs in South Korea. The partnership will see LTC integrated onto MeconCash’s M.Pay payments platform. Litecoin will also be accepted as payment on MeconCash’s retail platform MeconMall, and to pay for games that accept M.Pay rewards. According to CryptoCompare, 24-hour trade between Litcoin and won produced nearly $4.3 million in trade — comprising 0.82 percent of total trade at press time. Charlie Lee, the managing director of the Litecoin Foundation, described the partnership as “a big step …

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 moving forward with a proposal to criminalize Ponzi schemes, cryptocurrencies may come under fire as well. Speaking at the parliament, the State Minister of Finance David Bahati revealed that the government has established a task force to explore cryptocurrencies and their potential applications in Uganda. The task force will also focus on global industry 4.0 trends that could result in major developments for the country and region. Though …