Ghana’s Central Bank proposes new cryptocurrency regulation plan

BlockBeats news, on August 16, Cointelegraph reported that the Bank of Ghana (BoG) proposed new digital asset regulatory measures after an extensive internal 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 on the upcoming cryptocurrency regulations.

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

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