The Financial institution of Ghana is finalizing a draft invoice on licensing cryptocurrency platforms. The doc is predicted to be submitted to the nation’s parliament by September 2025.
The Financial institution of Ghana (BoG) plans to ship a legislative initiative regulating the licensing of crypto platforms to parliament. Authorities goal to introduce regulation of the digital asset market, which is already utilized by about 3 million residents. This was said to Bloomberg by Johnson Asiama, Governor of BoG.
In accordance with the official, the upcoming regulation will legalize the actions of crypto platforms, opening entry to strategic investments, simplifying cross-border commerce, and strengthening management over monetary flows. “We are literally late within the recreation,” he famous, declaring that a good portion of transactions are carried out in cryptocurrencies and never accounted for within the nation’s monetary system.
From July 2023 to June 2024, the amount of crypto transactions in Ghana reached $3 billion. That is about 2.4% of the $125 billion recorded in Sub-Saharan African international locations throughout the identical interval. For comparability, Nigeria’s crypto transaction quantity reached $59 billion. In accordance with Web3 Africa Group estimates, about 17% of Ghana’s grownup inhabitants actively makes use of digital property.
Amid excessive volatility of the nationwide foreign money, the cedi, crypto market regulation can be seen as a software for stabilization. The cedi appreciated by 48% over the previous yr, offsetting a 25% decline within the earlier interval. However, a excessive key rate of interest of 28% alongside 13.7% inflation as of June 2025 continues to place stress on the financial system.
Kwame Oppong, Head of FinTech on the Financial institution of Ghana, informed Bloomberg that the regulator’s purpose is to construct a protected infrastructure contemplating residents’ present exercise within the digital asset market.
Cryptocurrencies may also deal with the scarcity of greenback liquidity in cross-border commerce, mentioned Craig Stoehr, Normal Counsel of pan-African stablecoin platform Yellow Card. Yellow Card is a associate of PayPal in a venture utilizing the PYUSD stablecoin to optimize worldwide funds between African international locations.
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