Through a press release, the Central Bank of West African States (Bceao) informs that cryptocurrencies do not have the characteristics associated with a conventional currency, and the transactions they generate are neither framed, nor controlled by the issuing institution.

In view of the many risks posed by this activity, the Central Bank calls on the population to be vigilant. According to the financial institution, the activity involves significant risks of liquidity, fraud, scam and money laundering associated with participation in these trading platforms. Which would mean, she informs, that the populations could be victims of the loss of their assets without any possibility of recourse. It is therefore for these reasons that the Bceao invites citizens to be vigilant so as not to succumb to promises and advertisements on cryptocurrencies from various origins. Through the same press release, the financial institution warns that it cannot be involved in any conflict related to these activities and the use of said platforms.