The Minister of Communication, Ursula Owusu-Ekuful, has warned Ghanaians to desist from investing in cryptocurrencies that are shooting up in Ghana.
According to the Minister cryptocurrencies in Ghana are not licensed by the Bank of Ghana and as such whoever invest in any product of cryptocurrencies does it at his or her own risk.
She said any individual who ignores such warnings should not expect the government come to their aid should they lose their investments.
“Let’s listen to the Bank of Ghana when they issue an alert. Bitcoin is not regulated by the Bank of Ghana and, so, when you invest, you do so at your own risk. Don’t call on government to bail you out when you lose,” she said on Thursday, December 13 2018 at the Meet The Press series at the conference room of the Ministry of Information.
“What can we do using technology to protect us? Currently I’m sad to say, not much. We all have to be wise, let us use our commonsense. It is not everybody who promises enormous profit who is genuine, and even that should put you on your guard. It may take a longer time to get rich but your money will be secure. If you gamble, you stand the risk of making fantastic profit or you stand the risk of losing your investment. That is an individual choice and, so, we need to be wise,” Mrs Owusu-Ekuful added.
Few weeks ago, some 3,000 depositors seem to have lost GH¢4 million in the latest scam by Global Coin Community Help (GCCH), a cryptocurrency investment syndicate.
The Economic and Organized Crime Office (EOCO) in November 2018 grilled the two Directors of GCCH for allegedly swindling the investors of GHS135 million.
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However, The Central bank, in early November, warned that it had not issued licenses to the following companies to carry out deposit-taking activities and that Ghanaians should not be trade with such unlicensed entities.
They are: Global Coin Community Help International Limited (GCCH), Wealth Drive Ghana Limited (WDG), Devonshire Place Capital Ghana Limited, TCL Markets Ghana Limited, FX-Crypto Traders and Sonsis Susu Services Limited.
