Dancehall artist Stonebwoy has denied any formal association with Sidicoin, a supposed cryptocurrency that has yet to be launched.
According to him, the promotion of Sidicoin on his social media page was only to encourage people to learn about NFTs and get information about what is becoming a global phenomenon.
The artist has come under heavy criticism for promoting Sidicoin, which the Bank of Ghana recently issued a warning about.
In a public disclaimer, Stonebwoy said it was in no way seeking to entice or encourage people to invest in an unlicensed financial program.
“I am not an ambassador for Sidicoin, nor am I associated with the product, nor have I been rewarded for promoting it… My advocacy was for people to join a club so that we learn more information about how not to be left behind by the new world order, not to encourage people to invest in a financial system of any kind,” he explained.
Read the full disclaimer below:
“For the avoidance of doubt, I am not an ambassador for Sidicoin, nor associated with the product, and have not been rewarded for promoting it. The developing world of NFTs, Web3.0, Metaverse, and digital/crypto assets and their ability to change people’s financial fortunes caught my attention lately and I just thought I was sharing a Ghanaian version I had discovered for people who are as interested as I am to join in my learning journey. My advocacy was for people to join a club so that we learn more information on how not to be excluded from the new world order, not to encourage people to invest in a financial program of in hindsight, I should have hurried slowly, but I blame over-enthusiasm for all the exciting things I’m discovering about the adoption of these disruptive technologies. ire what the Bank of Ghana says and exercise caution even as we strive to do better for ourselves and our communities. Thank you.
The Bank of Ghana’s recent statement on Sidicoin stated that neither the cryptocurrency investment program nor its promoters have Bank of Ghana approval to operate in the banking and payment services industry.
“The public is urged to exercise caution regarding trading in cryptocurrencies and other unregulated investment programs. The Bank further warns all regulated institutions, including banks, depository institutions companies, dedicated e-money issuers and payment service providers, to refrain from facilitating unlicensed cryptocurrency transactions and investment programs, through their platforms or points of sale,” the statement added. .