According to Odaily, the Bank of Ghana (BoG) has introduced new regulatory measures for digital assets following an extensive internal review of Bitcoin, USDT, and other cryptocurrencies. On August 16, the central bank released draft guidelines for digital assets and is seeking feedback from the public and industry stakeholders on the forthcoming cryptocurrency regulations.
The Bank of Ghana's data collected over the past three years indicates a significant increase in the demand for cryptocurrencies within the country. In response, the bank plans to implement laws addressing risks associated with money laundering, terrorism financing, and fraud, alongside other measures aimed at protecting consumers.
The central bank has proposed an eight-pillar framework for cryptocurrency regulation, focusing primarily on enhancing registration and reporting requirements for cryptocurrency trading platforms or virtual asset service providers (VASPs).
