3 Oct 2018

Samoa Central Bank warns against digital currencies

4:11 pm on 3 October 2018
The Central Bank of Samoa

The Central Bank of Samoa Photo: RNZI/ Koroi Hawkins

The Central Bank of Samoa has again warned against investing in digital currencies on the internet.

In a statement, the Central Bank points out the schemes, which started in 2009, are not legal tender in Samoa.

The Bank warns that Bitcoin, Onecoin, Lifecoin and other such schemes are not secured and people investing in them run the risk of losing everything they invest.

Meanwhile the government also announced an increase in the cost of fossil fuel for the second month in a row.

Unleaded gas is up by 6 sene to $2.85 a litre and diesel engine motorists will pay $2.88 sene per litre.

Get the RNZ app

for ad-free news and current affairs