The Securities and Exchange Commission(SEC) is cautioning the General public against investing in crypto currency deals.
The SEC insists the activities of crypto currencies are not licensed by their outfit.
The SEC states that activities offered by such digital on-line trading platforms that promise high returns on investment entities are unregistered and unlicensed neither are they sanctioned nor registered by the SEC.
Some of such platforms include Bitcoin, XRP, Lite Coin, Ethereum, Monero, XRP, Tether, Tron, Binance Coin, Neo, IOTA, NEM, Holo, Waves, Ontology, Maker, Tezos, USD Coin, Ripple, Dash, Cardano, Stellar, ZCash, EOS and others.
In a press statement the SEC warned that none of such Crypto currencies are recognized as currency or legal tender in Ghana neither is the platform on which they are traded also licensed and regulated by the SEC.
It therefore warns that members of the general public who are investing or intend to invest in such currencies or assets may be doing so at their own risk and can in no way be protected under the Securities law regime in Ghana.
Meanwhile SEC advises the public to report the activities of those offering such Crypto currencies, such like assets, schemes and their trading platforms to the Securities and Exchange Commission.
It will be recalled that the SEC also cautioned the public against investing with Menzgold, shortly after which the company was put under investigations for trading illegally.
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By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana