The bank said it had come to its attention that there were still a large number of people wanting to remit or transfer money out of Samoa to invest in the Onecoin cryptocurrency, despite warnings by CBS that there was a very high risk that the promotion was a pyramid scheme.
Under national regulations, people cannot transfer money out of Samoa without the approval of the CBS.
Using this law, the bank decided to block all approvals for any transactions relating to the Onecoin cryptocurrency.
