Gideon Williams, the Media Relations Officer for Freedom Coins, has rubbished the claims by the Bank of Ghana (BoG) suggesting that Freedom Coin as a crypto currency is fraudulent. He thus, described the press release by BoG as “premature”.
In a press statement released by Freedom Coins in reaction to Bank of Ghana’s statement, Freedom Coins acknowledged the Central Bank’s role as a regulator, nonetheless chided the institution for the unwarranted statement without recourse to facts regarding the operation and launch of the coins.
“We have become aware of the public notice issued by the Bank of Ghana concerning Freedom Coins on Wednesday, 9th March 2022. While we understand it is the duty of the Central Bank of Ghana to take the necessary steps to prevent individuals or groups in the country from creating financial instruments that could threaten the economic situation of the country, we find the message to be premature on their part.”Gideon Williams
Freedom Coins, Not a Cryto Currency
The statement further denied conjectures that Freedom Coins is a crypto currency. The statement noted that it is the media calling Freedom Coins a crypto currency, and as such, “it is speculation.”
“Freedom Coin was announced at the Black Star Square on Ghana’s Independence Day, 6th March 2022. However, there were no specifics given about what the product was going to be like and how it would fit within the current financial system. The mentions of Freedom Coins as a crypto currency were speculations by the media. While we acknowledge the central bank’s desire to preempt the potential for fraudulent activity, the speed with which the statement was made, has created the impression that they are aware of nefarious activities from Freedom Coin, and that is categorically false. We do not need the approval of the Bank of Ghana for our announcements. Freedom Coin would have answered all BOG questions if they had reached out for an official inquiry, but they did not.”Gideon Williams
Details About Freedom Coins to be Available Soon
Mr Gideon Williams noted that he and his team will at the appropriate time, come out with information on the operation of Freedom Coins. He iterated that the speed with which the BoG statement was made has created the impression that Freedom Coin is Ponzi scheme.
“We understand their [BoG] apprehension is due to the existential challenges that a centralized system has with a decentralized system. We have specific plans to send out information to the general public in the coming days, weeks and months about the full scope of Freedom Coin.”Gideon Williams
In a press release issued by the Central Bank earlier in the week, Bank of Ghana cautioned the general public that it has not approved any firm to trade in a crypto currency called ‘Freedom Coin’.
“It has come to the attention of Bank of Ghana that there is an impending launch of a crypto currency named ‘Freedom Coin’. The public is hereby, cautioned that neither this crypto currency nor the promoting company has approval from Bank of Ghana to operate in the banking and payment sector.”BoG
It added, “Bank of Ghana advises the general public to exercise caution in respect of cryptocurrency transactions.”
“We know the statement has cast doubt in the minds of people and we understand this sentiment we want to implore you to exercise patience and make a decision for yourself once more details become public. To those who have continued to show their support, thank you. Your sincere anticipation of Freedom Coin will not be in vain”.Freedom Coins