Ghana Central Bank Introduces Cryptocurrency Regulation Framework.

Ghana’s Central Bank has unveiled a cryptocurrency regulation framework. The framework plans to begin regulating digital assets later this year, subject to the passage of the Virtual Asset Providers Act, which currently awaits parliamentary approval.

Governor Johnson Asiama announced these plans during the African Leaders and Partners Forum in Washington D.C. He indicated that the Bank of Ghana remains committed to addressing digital asset adoption and is developing appropriate consumer safeguards. The proposed regulation gievs the central bank authority to license virtual asset service providers (VASPs), including imposing licensing requirements.

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Reports highlighted that approximately 3.1 million, nearly 17% of Ghanians, own digital assets despite a lack of regulation. Several other African nations, including Nigeria, South Africa, and Kenya, are also involved in crafting similar regulations.

The country will also proceed to roll out the eCedi, a central bank digital currency that will secure payments and enhance monetary sovereignty.

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