Ghana passes law to legalize crypto trading, central bank governor says
Ghana has legalized cryptocurrency trading by passing the Virtual Asset Service Providers Bill, empowering the central bank to regulate the industry.Summary
Ghana's parliament has passed the Virtual Asset Service Providers Bill into law, officially legalizing cryptocurrency trading and establishing a regulatory framework managed by the Bank of Ghana (BoG). BoG Governor Johnson Asiama confirmed that engaging in cryptocurrency is now legal, but the framework is in place to manage associated risks like fraud and systemic issues. The legislation grants the BoG supervisory powers to license and oversee crypto asset service providers (CASPs), aiming to enhance consumer protection and support innovation and financial inclusion. This regulatory move positions Ghana as a significant player in crypto adoption, as the country already ranks among the top five Sub-Saharan African crypto economies by total value received.
(Source：Cointelegraph)