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Samoa central bank says cryptocurrencies are not legal tender.

Global Banking News-September 6, 2018--Samoa central bank says cryptocurrencies are not legal tender

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Global Banking News - 06 September 2018

The Central Bank of Samoa has issued a statement in which it has said that cryptocurrencies are not legal tender.

The bank also said that the currencies are not issued or regulated by the bank. It also discouraged people from investing in it.

The bank said, 'People who invest in any of the cryptocurrencies do so at their own risk. There is no guarantee that cryptocurrencies will be accepted as a medium of exchange, or will hold their value. The Central Bank does not currently endorse unregulated cryptocurrencies like bitcoin, Onecoin or any cryptocurrency that has been promoted in Samoa. Therefore, the Central bank does not encourage anyone to invest in any of them.'

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Publication:Global Banking News (GBN)
Date:Sep 6, 2018
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