Ghana’s Central Bank Initiates Move to Regulate the Crypto Industry
- Ghana’s central bank is drafting new crypto laws.
- Virtual asset operators would soon need licenses to operate in Ghana.
- The new crypto laws will cover anti-money laundering and user protection policies.
Ghana’s Central Bank is set to present a draft regulatory framework to address the nation’s cryptocurrency ecosystem, according to a Bloomberg report.
If passed, the new rules would allow the regulator to issue licenses to virtual asset firms operating in Ghana and would mark a major shift in the government’s official perspective on crypto.
Crypto isn’t so new in Ghana
While the proposed law is new, cryptocurrency has already gained significant traction in Ghana, with over three million adults representing 17% of the West African country’s population, are already using the technology. Most of these users engage with Bitcoin and the USDT stablecoin for both investment and transactions.
Related: Turkey Prepares Stricter Crypto Regulations to Combat Financial Crime
Ghana’s limitations in traditional banking remain a significant factor in the growing adoption of cryptocurrency. A notable sector of the population, particularly those in rura…
The post Ghana’s Central Bank Initiates Move to Regulate the Crypto Industry appeared first on Coin Edition.
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Ghana’s Central Bank Initiates Move to Regulate the Crypto Industry
- Ghana’s central bank is drafting new crypto laws.
- Virtual asset operators would soon need licenses to operate in Ghana.
- The new crypto laws will cover anti-money laundering and user protection policies.
Ghana’s Central Bank is set to present a draft regulatory framework to address the nation’s cryptocurrency ecosystem, according to a Bloomberg report.
If passed, the new rules would allow the regulator to issue licenses to virtual asset firms operating in Ghana and would mark a major shift in the government’s official perspective on crypto.
Crypto isn’t so new in Ghana
While the proposed law is new, cryptocurrency has already gained significant traction in Ghana, with over three million adults representing 17% of the West African country’s population, are already using the technology. Most of these users engage with Bitcoin and the USDT stablecoin for both investment and transactions.
Related: Turkey Prepares Stricter Crypto Regulations to Combat Financial Crime
Ghana’s limitations in traditional banking remain a significant factor in the growing adoption of cryptocurrency. A notable sector of the population, particularly those in rura…
The post Ghana’s Central Bank Initiates Move to Regulate the Crypto Industry appeared first on Coin Edition.
Read More
South Korean Regulator Fines First Crypto Whale Under New Law