Regulatory Architecture
Four Regulators, Four Obligations
Section titled “Four Regulators, Four Obligations”| Regulator | Mandate | AsiliChain obligation |
|---|---|---|
| Bank of Uganda (BoU) | Licences PSPs/PSOs. Regulates mobile money. | MTN Uganda is BoU-licensed. AsiliChain documents payment flow for any BoU review. Not a PSP. |
| Financial Intelligence Authority (FIA) | Registers VASPs. AML compliance. | Fonbnk must hold current FIA VASP registration in Uganda. Verify before Phase 1 mainnet. |
| Mobile Money Regulations (MoMo) | BoU oversight | compliant with MTN MoMo |
| Data Protection and Privacy Act 2019 | Uganda Data Protection Office | Fungibility of on-chain data is limited. DPA filed. |
| EUDR (European Union Deforestation Regulation) | EU Commission | DDS auto-generated and filed to EU TRACES on EXPORTED stage. |
The Fonbnk Regulatory Picture
Section titled “The Fonbnk Regulatory Picture”Fonbnk holds FIA VASP registration and regulatory licenses across 16 African markets, including Uganda. This covers the crypto-to-fiat leg of the payout:
- Crypto conversion leg (USDC → UGX via merchant balance): FIA VASP framework — Fonbnk is FIA-registered
Both must be confirmed active before Phase 1 mainnet.