The President of the Uganda Law Society, Isaac Ssemakadde, has reaffirmed the Society’s commitment to guiding the responsible growth of virtual assets while safeguarding the interests of stakeholders.
Speaking virtually during the Society’s weekly press briefing in Kampala on Thursday, Ssemakadde said the legal profession must position itself to understand and regulate emerging financial technologies, including cryptocurrencies and other blockchain-based assets.
“As the Uganda Law Society, we recognize the importance of staying ahead in this digital age. Today’s dialogue is a testament to our commitment to understanding and guiding the responsible growth of virtual assets, while protecting the interests of all stakeholders,” Ssemakadde, who was speaking by video-assisted from his place of exile, said.
Ssemakadde noted that the rapid expansion of digital financial technologies presents both opportunities and risks that require thoughtful legal oversight.
He also reflected on the transformation of professional knowledge sharing over the past decade, noting that in many sectors—including legal practice—knowledge was traditionally confined to exclusive conferences, costly registration platforms and restricted professional circles.
“For too long, knowledge became something guarded rather than shared. But over the past decade, something important has begun to change. A new movement has emerged—one that believes knowledge should be open, accessible, and shared freely,” he said.
Ssemakadde pointed to the rise of the open-source movement as a sign of this shift, arguing that access to information should empower communities rather than exclude them.
“What many today call the open-source movement reflects this idea: that information should empower communities, not exclude them,” he added.
He said the Uganda Law Society is committed to ensuring that lawyers are equipped with the knowledge required to navigate the digital economy while contributing to the development of sound regulatory frameworks.
The remarks come amid growing global discussions about the regulation of virtual assets, including cryptocurrencies, digital tokens and other blockchain-based financial instruments, as governments and regulators seek to balance innovation with financial stability and consumer protection.