BoG Unveils Plan to Regulate Cryptocurrency with New Guidelines
The Bank of Ghana (BoG) is on the verge of releasing guidelines for virtual assets, including cryptocurrency. These guidelines aim to create a framework that will enable the central bank to issue licenses to eligible businesses operating in the sector.
According to Dr. Johnson Asiama, Governor of the Bank of Ghana, the guidelines are necessary to protect Ghanaians from the risks associated with virtual assets. He emphasized that despite the potential dangers, Ghana cannot ignore the growing influence of cryptocurrencies.
The move follows the establishment of the Virtual Assets Coordinating Committee last month, which provides a platform for coordinated regulatory and supervisory action among relevant institutions under the Virtual Assets Service Providers Act, 2025 (Act 1154).