According to Odaily Planet Daily, the Bank of Ghana (BoG) has proposed new digital asset regulatory measures after an extensive review of Bitcoin, USDT and other cryptocurrencies. On August 16, the Central Bank of Ghana released a draft guide for digital assets and sought feedback from the public and industry stakeholders.

According to data from the Bank of Ghana, demand for cryptocurrencies in Ghana has increased significantly over the past three years. The bank plans to implement laws to target risks related to money laundering, terrorism financing, fraud and other measures to protect consumers.

The Central Bank of Ghana has proposed an eight-pillar framework for cryptocurrency regulation, primarily to strengthen registration and reporting requirements for cryptocurrency trading platforms or virtual asset service providers (VASPs).