The Bank of Ghana (BoG) has cautioned the public against trading in cryptocurrencies and other unregulated investment scheme.
This comes on the back of the impending launch of a cryptocurrency investment scheme, named “SIDICOIN”.
A statement signed by the central bank’s secretary, Sandra Thompson, indicated that promoters of the yet to be launched had not obtained the license to operate.
It also noted that further to previous notices issued by Bank of Ghana on such schemes, in particular Notice NO. BG/GOV/SEC/2018/02, the central bank underscores the fact that such schemes are not regulated under any law in Ghana.
“The public is hereby cautioned that neither this investment scheme nor the Promoters of the company have obtained the approval of Bank of Ghana, to operate in the banking and payment services sector,” it said.
The bank further cautions all regulated institutions, including banks, specialized deposit-taking institutions, dedicated electronic money issuers and payment service providers, to desist from facilitating cryptocurrency transactions and unlicensed investment schemes, through their platforms or agent outlets.
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