The public asked to stay away from SIDICOIN
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The Bank of Ghana (BoG) has in a statement cautioned the general public against investing in a cryptocurrency scheme “SIDICOIN” expected to be launched in the country before long.
The statement, issued on April 27, 2022, and signed by the secretary, Sandra Thompson, said “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.”
While emphasizing that “such schemes are not regulated under any law in Ghana”, the central bank cautioned all regulated institutions to refrain from enabling cryptocurrency transactions.
“The general public is advised to exercise caution with regards to trading in cryptocurrencies and other unregulated investment schemes.
“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. The general public is advised to take note and be guided accordingly.”