Bank of Ghana Warns Ghanaians Against Cheddar’s ‘Freedom Coin’
The Bank of Ghana has warned citizens about the dangers of putting their money into Cheddar’s ‘Freedom Coin’. The bank released a public statement warning against investing in the cryptocurrency, explaining that it is not attached to any central bank or government and there is no guarantee that the funds invested will ever be recovered if the coin fails.
The Bank of Ghana has warned Ghanaians, in a new statement, against the purchase or use of cryptocurrencies including Cheddar’s Freedom Coin.
The warning comes after a number of accusations leveled against Cheddar that it is an unregulated financial institution and that its currency is not legal tender.
The Bank of Ghana has issued a warning against the release of the Freedom Coin, a virtual currency to be launched by Nana Kwame Bediako aka Cheddar.
Cheddar plans to launch a new cryptocurrency named “Freedom Coin” and addressed the youth at his own “Independence Day”.
The Bank immediately released a statement to say that they have not taken any steps to approve this cryptocurrency.