According to the Central Bank, the said cryptocurrency investment scheme has not obtained the requisite approval to operate in the banking and payment services sector.
Published
4 years agoon
By
Adubianews
The Bank of Ghana says it has taken note of the impending launch of a new cryptocurrency investment scheme known as “Sidicoin”.
According to the Central Bank, the said cryptocurrency investment scheme has not obtained the requisite approval to operate in the banking and payment services sector.
The BoG has thus warned the public through a notice issued on Wednesday, April 27, 2022. The apex bank cautioned that Ghanaians or the public should desist from trading and investing in the Sidicoin investment scheme and any other unregulated investment schemes.
The central bank further cautioned banks, SDIs, electronic money issuers and payment service providers to desist from facilitating cryptocurrency transactions and unlicensed investment schemes through their platforms or agent outlets.
Notice to the General Public on a Cryptocurrency Investment Scheme Called ‘SIDICOIN’ pic.twitter.com/5Si2QywN1a
— Bank of Ghana (@thebankofghana) April 27, 2022
In a related development, dancehall artiste, Stonebwoy and media personality, Bridget Otoo, a few days ago engaged in a heated verbal exchange on social media over this same Sidicoin investment.
Ms Otoo had advised the former against publicly endorsing investment deals after Stonebwoy introduced a non-fungible token (NFT) SidiCoinNFT.
She insisted that it would be insensitive for the musician to make the move against the backdrop of his ambassadorial role in the Menzgold saga.
Prior to this, Stonebwoy tweeted and introduced his fans to this new business telling them times are changing hence joining SidiCoinNFT will help every hardworking individual to make money.
But Bridget Otoo in a swift response to Stonebwoy’s post said;
“You are part of the ambassadors of Menzgold who championed and led customers to lose money. Some have died as a result of the Menzgold scam. Do you think it is fair to introduce them to another “money making venture”? Do you really care about them?” .
Bank of Ghana Urges Ghanaians to Respect the Cedi as a Symbol of National Dignity
Cedi Turns 60: Bank of Ghana Marks Milestone with National Celebration
BoG Assures Businesses of Dollar Availability, Cuts Policy Rate
BoG Cracks Down on Huge Dollar Withdrawals to Protect Ghana’s Economy
BoG to Ban Wilful Loan Defaulters from Credit Access for Five Years
BoG Postpones Cedi@60 Launch Following Fatal Helicopter Crash
BoG Quells Fears of Dollar Shortage, Reaffirms Commitment to Forex Stability
BoG Governor Attributes Cedi Stability to Policy Reforms and Investor Confidence
Ghana’s $1.4 Billion FX Sale in Q1 2025 Raises IMF Concerns