Ghanaian estate developer and businessman, Freedom Jacob Caesar has advised the Bank of Ghana to be more worried about the depreciating nature of the Ghana cedi than a coin that he intends to launch.
His comment comes after the Bank of Ghana in a statement cautioned Ghanaians to stay away from the “Freedom Coin” or any other cryptocurrency since they have not been approved for use in the banking and payment sector.
The statement read;
It has come to the attention of the Bank of Ghana that there is an impending launch of cryptocurrency named freedom Coin The public A hereby cautioned that neither this cryptocurrency nor the promoting company has approval from the Bank of Ghana to operate in the banking and payment sector.
In line with notice NO.BG/GOV/SEC/2018/02 issued on 22nd January 2018 which can be found on the Bank, website, Bank of Ghana t.shca to reiterate that cryptocurrencies such as Bitcoin are not regulated under any laws in Ghana and are therefore not backed by any guarantees or safeguards.
Bank of Ghana advises the general pub. to exercise caution in respect of cryptocurrency transactions. The Bank further directs all licensed institutions Including banks, specialised deposit-taking institutions. dedicated electronic mon, issuers and payment service providers to refrain from facilitating cryptocurrency transactions via their platforms or agent outlets.
The general public is hereby advised to be guided accordingly.
Responding to the statement, Freedom Jacob Caesar wrote;
“Good morning Ghana our cedi is depreciating almost 8 cedis to a dollar. I think the Bank of Ghana has more to worry about than a Freedom coin that’s not even launched. 🤩”
Good morning Ghana our cedi is depreciating almost 8 cedis to a dollar. I think the Bank of Ghana has more to worry about than a Freedom coin that’s not even launched. 🤩
— Freedom Jacob Caesar (@iamfreedom) March 10, 2022