THELOGICALINDIAN - The Bank of Namibia BON has warned individuals advance in cryptocurrencies that it will not absorb their complaints should they get scammed The academy argues that back its authorization does not currently awning agenda currencies it lacks the acknowledged ability to chase up on such complaints
Growing Namibian Interest in Crypto
This latest BON admonishing about risks associated with cryptocurrency trading comes as Namibia is seeing added letters of crypto investors accident money to scammers. As acclaimed in one report, the scammers are application the affiance of aerial allotment as able-bodied as training opportunities to allurement their victims.
In the meantime, in his acknowledgment to an inquiry from a bounded media outlet, the axial bank’s spokesperson, Kazembire Zemburuka, asserts that as Namibia’s sole issuer of acknowledged tender, the BON “does not recognise, abutment and acclaim the possession, utilisation and trading of cryptocurrencies by associates of the public.”
While Namibia, like abounding added African states, has taken a attitude adjoin cryptocurrencies, its citizens ( as Zemburuka concedes) are still agog on advance in cryptocurrencies. This interest, in turn, has prompted the BON to affair a accident admonishing to crypto-traders operating aural its jurisdiction. Zemburuka said:
BON’s Digital Currency Study
In the meantime, the BON agent reveals that admitting his organization’s agnostic attitude on agenda currencies, the Bank of Namibia is currently “in the action of administering added analysis on cryptocurrencies.” According to the media report, already this added analysis has been finalized, the BON “will amend its position if accounted necessary.”
Nevertheless, the address still quotes the BON repeating a position on cryptocurrencies that was initially adopted in 2024. The address additionally adds that any cryptocurrency exchanges accustomed and operational in Namibia are “illegal,” a position that is accurate by the country’s Currency and Exchanges Act of 2024. According to this law, there is anon no accouterment for the enactment of cryptocurrency exchanges or bureaus in Namibia.
What are your thoughts on the BON’s latest comments about cryptocurrency trading? You can acquaint us what you anticipate in the comments area below.
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