BPNG warns against cryptocurrencies

BPNG says these cryptocurrencies do not have any legal tender status to be accepted as a currency in PNG.

The Central Bank says investment in digital currencies such as bitcoin, ethereum, EOS or Litecoin is considered very risky and speculative in nature.

“People who invest in any of the cryptocurrencies do so at their own risk,” says BPNG Governor, Loi Bakani.

“There is no guarantee that cryptocurrencies will be accepted as a medium of exchange, or will hold their value.