The Bank of Ghana (BoG) has cautioned the general public against “the impending launch of a cryptocurrency investment scheme named “SIDICOIN”.”
According to the BoG 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.
“Further to previous notices issued by Bank of Ghana on such schemes, in particular
Notice NO. BG/GOV/SEC/2018/02, Bank of Ghana underscores the fact that such
schemes are not regulated under any law in Ghana”, a statement from the BoG declared.
The Central Bank thus reiterated its warning that Ghanaians should exercise caution with regards to trading in cryptocurrencies and other unregulated investment schemes.
The Bank further cautioned 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.
Kindly click the link below for BoG’s full statement:
BOG-Notice-BG-GOV-SEC-2022-06-Cryptocurrency-Investment-Scheme-Called-Sidicoin-27-04-22
