'YEPBIT Exchange and BonChat are not licensed' — SEC warns Ghanaians
The Securities and Exchange Commission (SEC) has cautioned the public against investing with YEPBIT Exchange and BonChat, describing the two entities as suspected fraudulent investment schemes operating without regulatory approval in Ghana.
In a public notice issued on July 15, 2026, the Commission said investigations had revealed that the two platforms were soliciting investments from the public, including through digital and crypto asset-related services, despite not being licensed to operate in the country's securities market.
According to the SEC, neither YEPBIT Exchange nor BonChat holds the necessary licence required to offer investment services in Ghana.
The Commission explained that, under the Securities Industry Act, 2016 (Act 929), it is responsible for regulating the securities industry and safeguarding the interests of investors.
It therefore urged the public to verify the licensing status of any company offering investment or trading services before investing, advising prospective investors to contact the SEC directly for confirmation where necessary.
The regulator also warned Ghanaians to be cautious of investment schemes that promise unusually high or guaranteed returns, noting that such claims are often associated with fraudulent operations.
Additionally, the SEC cautioned against schemes whose earnings depend largely on recruiting new participants, explaining that this is a common characteristic of Ponzi schemes.
The Commission encouraged members of the public to report any suspicious investment platforms or activities to the SEC for investigation.
The notice was issued by the Executive Management of the Securities and Exchange Commission pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended.