The Bank of Ghana has proposed a new regulatory framework for cryptocurrencies and is seeking public feedback

2024-08-16 15:44:34

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ChainCatcher news, according to Cointelegraph, the Bank of Ghana (BoG) has proposed new regulatory measures for digital assets after conducting a comprehensive internal review of Bitcoin, USDT, and other cryptocurrencies.

On August 16, the Central Bank of Ghana released a draft guideline for digital assets and sought feedback from the public and industry stakeholders on the upcoming cryptocurrency regulations.

According to the Bank of Ghana, data collected over the past three years indicates a significant increase in demand for cryptocurrencies in Ghana. Therefore, Ghana intends to implement laws addressing risks such as money laundering, terrorist financing, and fraud, as well as measures to protect consumer rights.

The Central Bank of Ghana has proposed a cryptocurrency regulatory framework consisting of eight pillars, primarily aimed at strengthening registration and reporting requirements for cryptocurrency trading platforms or virtual asset service providers (VASPs). The central bank is currently soliciting suggestions from industry professionals, experts, and the public, with a deadline of August 31.

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