Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed

bank of namibia warns crypto traders it will not entertain complaints if they get scammed

Sumary of Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed:

  • The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed..
  • Growing Namibian Interest in Crypto This latest BON warning about risks associated with cryptocurrency trading comes as Namibia is seeing increased reports of crypto investors losing money to scammers..
  • While Namibia, like many other African states, has taken a stance against cryptocurrencies, its citizens ( as Zemburuka concedes) are still keen on investing in cryptocurrencies..
  • This interest, in turn, has prompted the BON to issue a risk warning to crypto-traders operating within its jurisdiction..
  • BON Digital Currency Study In the meantime, the BON spokesperson reveals that despite his organization skeptical stance on digital currencies, the Bank of Namibia is currently “in the process of conducting further research on cryptocurrencies.”.
  • Nevertheless, the report still quotes the BON repeating a position on cryptocurrencies that was initially adopted in 2018….

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