ECCB Advises Public To Be Mindful Of Risks Associated With Cryptocurrencies

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he Eastern Caribbean Central Bank (ECCB) is aware of the recent increase in the activities of Bitcoin Cash in the Eastern Caribbean Currency Union (ECCU) and advises the public that the ECCB does not regulate Bitcoin Cash.

The public is hereby advised to be mindful of the risks associated with utilising Bitcoin Cash or any cryptocurrency as a payment or investment instrument.

The ECCB reminds the public that the Eastern Caribbean (EC) Dollar, together with its digital form, DCash, remains the sole currency which bears the status of legal tender in the ECCU.

SOURCE: Eastern Caribbean Central Bank

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

5 COMMENTS

  1. Wow the ECCB is fully aware what this currency entails.They must and are getting their banks ready for this digital currency.The world bank,the WEF ,ECCB are all one

  2. Bitcoin/Bitcoin cash are DECENTRALISED cryptocurrencies. It means that no one owns or controls it. You can remain anonymous using it. Anyone has access to it provided you have a digital wallet. Transactions are transparently stored in the public ledger. Transactions cannot be altered once complete.

    ECCB’s Dcash is controlled by ECCB and ECCB alone. Knowing the above perhaps you can understand why central banks are doing everything to kill cryptocurrencies. It takes away their power. Central Bank digital currencies will allow governments to control how you spend your money, when you spend your money, on what you spend your money and they can outright deny you from spending you money. Ask yourself if this is a world you wish to live in.

    • Well said. They warn of the risks yet do not allow us the freedom to participate in the purchasing of crypto by blocking transactions. It’s a gimic, a sham and hypocritcal on the banks part.

  3. The SALCC administrative community must take into account the obvious consequences of not addressing the current nursing department crisis at SALCC. Such an negative experience at the department of nursing is certainly a catalyst for the vast migration of nurses. Why is SALCC administration in support of our negative experience? Who is actually the principal of SALCC? Is the Nursing Department administration the Board of Governors of SALCC? Who is really in charge?

  4. Soon the ECCB will be yet another useless legacy operation.
    1. Dominica adopted TRON as legal tender – yall kicking them out as a member?
    2. Does the ECCB own the DCASH software including the wallets? How much does the ECCB pay to Bitt for licensing their software?
    3. Why is the ECCB playing in the same market it regulates?
    4. Why was the DCASH wallet down for 2 months with no explanation and finally, a lie to the users?

    I think the ECCB needs to answer these questions instead of issuing ridiculous warnings. Fun fact: they cannot regulate decentralized currency. Periodt.

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