The initiator of Freedom Coin, Nana Kwame Bediako alias Freedom Jacob Caesar or Cheddar has described as ‘premature’ a statement from the Central Bank warning the public on his yet to launch Freedom Coin.
In a statement signed by his media officer, Gideon Williams, the real estate mogul said he was not specified during the announcement of the Freedom Coin how he was going to operate – hence, the Central Bank’s warning was needless.
“There was no specific given about what the product was going to be and how it would fit within the current financial system. The only mention of Freedom Coin as a cryptocurrency were speculations by the media” a portion of the statement read
The Bank of Ghana in its release cautioned the public against trading in the new cryptocurrency following some publicity promotions made ahead of a yet-to-be-launched cryptocurrency named “Freedom Coin.”
According to the BoG, persons hoping to trade in Freedom Coin will be doing so at their own risk as to the cryptocurrency and other versions are “not regulated under any laws in Ghana, and are therefore not backed by any guarantee of safeguards.”