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22 June 2021

Bank of Namibia Warns Crypto Traders It 'Will Not Entertain Complaints' if They Get Scammed – Regulation Bitcoin News

Bank of Namibia Warns Crypto Traders It 'Will Not Entertain Complaints' if They Get Scammed – Regulation Bitcoin News


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The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed.

In the meantime, the BON spokesperson reveals that despite his organization’s skeptical stance on digital currencies, the Bank of Namibia is currently “in the process of conducting further research on cryptocurrencies.” According to the media report, once this additional research has been finalized, the BON “will update its position if deemed necessary.”?

The report also adds that any cryptocurrency exchanges established and operational in Namibia are “illegal,” a position that is supported by the country’s Currency and Exchanges Act of 1933.

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