[2017-06-17] Central Bank of Samoa Issues Warning Against Digital Currency

[ivanpoldark]

The Central Bank of Samoa has issued a warning against digital currency, including bitcoin, as part of a larger effort to crack down on get rich quick schemes.

The Central Bank’s Warning

The Central Bank of Samoa (CBS) has issued a warning against get rich quick schemes and digital currency such as bitcoin. This is the first time the bank has spoken against digital currency investments.

“It has been brought to our attention that a lot of get rich quick schemes and digital currency investment opportunities are being spread around the country through presentations and through social media,” the bank wrote, citing Facebook as the prime example of a social media venue. The CBS announced this week:

        

"We wish to advise the general public to be very cautious and diligent in dealing with get rich quick schemes or digital currency investments.[…] Please be aware and extra cautious of these investments."

Read more - https://news.bitcoin.com/central-bank-of-samoa-issues-warning-digital-currency/

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[iamTom123]

That Central bank is just doing its job for something which they have not yet thoroughly researched, studied and vetted on. And yes, there are really some schemes using Bitcoin as a payment gateway but they can just be ponzi or pyramiding  scheme.

I am sure that later on when they will continually heard about Bitcoin and they can be pressured by their residents, they will look back at Bitcoin again and realize its legitimacy. We have to realize that Bitcoin is relatively new compared to traditional fiat money and other financial tools in the market.

[aso118]

Warnings are okay. People just sidestep and continue as if nothing had happened.
It is only when Central Banks issue restrictions on purchase / transfer that problems arise.

[veleten]

central bank of Samoa is not an independent institution that otherwise could have been disregarded as Samoa
cannot be called one of the leading world powers
what is disturbing -it is the fact that central banks started to raise concerns about digital currencies
one has to understand that the central banks system is one big chain of management that doesn't neccessarily belong or managed
by a country they reside in,if you looked on the world's map,central banks exist in EVERY single country in the world,apart from some tiny states
so this is a signal from above that the global goverment is not ready yet for the  cryptocurrencies legalisation and merging them into the existing banking system