n a note published on the website of the Central African Financial Market Surveillance Commission (Cosumaf), its president, Nagoum Yamassoum, alerted the public to cryptocurrency activities in the Economic Community space. and monetary policy of Central Africa (CEMAC). These are not subject to regulatory framework, underlines the financial institution.
The Central African Financial Market Surveillance Commission (Cosumaf) recently sounded the alarm about the use of cryptocurrency in the area of the Community of Central African States (Cemac) . In this alert signed by the president of this institution, Nagoum Yamassoum, the exercise of crypto-asset activities is not subject to regulatory framework. Therefore, recalls Cosumaf, “no digital asset provider can offer such services”.
Nagoum Yamassoum warns the public about the risky nature of such investments and advises to remain cautious about offers from direct sellers promising guaranteed high returns. “Any entity or person engaging in public canvassing in order to make unregulated investments is liable to prosecution in accordance with the legal and regulatory provisions in force,” warned Nagoum Yamassoum.
Cryptocurrency, also known as active crypto or crypto currency, among others, is a currency issued on a peer-to-peer basis, without the need for a central bank, usable through a decentralized computer network. It is a digital asset that uses a computer network as well as a blockchain in order to be able to validate and carry out transactions between two or even several entities.
These assets therefore do not require a “trusted third party”, i.e. an institution that verifies transactions and prevents all kinds of fraud. Here only computers are responsible for the proper functioning of crypto-assets. As a result, the number of crypto-asset scams or scams is also very large.
