SEC cautions Ghanaians against investments in cryptocurrencies

The Securities and Exchange Commission (SEC) has cautioned Ghanaians against the use of cryptocurrencies.

Ghananewsagency.com reports that SEC stated cryptocurrencies are unregistered, unlicensed and unregulated under the Securities Law of Ghana.

For that reason, it went on, Ghanaians who engage in such activities do so at their own risk, as they could lose their investments.

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SEC revealed that its attention had been drawn to a fast growing interest in the issue, investment and trading in cryptocurrencies.

It mentioned 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 and EOS, as some of the popular ones.

SEC therefore, advised the public to report the activities of those offering such cryptocurrencies, such like assets, schemes and their trading platforms to it.

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Source: YEN.com.gh