Bank Of Ghana Proposes Fresh Regulatory Measures For Digital Assets

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The Bank of Ghana (BoG) proposed fresh regulatory measures for digital assets following an extensive internal review of Bitcoin, Tether, and other cryptocurrencies. BoG intends to implement laws targeting risks related to money laundering and terrorism financing, fraud, and other measures for consumer protection. The central bank proposed an eight-pillar framework for crypto regulations, mainly intensifying the registration and reporting requirements of cryptocurrency exchanges or virtual asset service providers (VASPs). The Bank would collaborate with the SEC to develop distinct complementary regulatory frameworks that encompass various applications or use cases of digital assets.