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Ghana to Regulate $3 Billion Crypto Market Through Mandatory Licensing by September 2025

Ghana’s central bank will implement mandatory licensing for cryptocurrency platforms by September 2025 to regulate an estimated $3 billion in annual transactions and enhance financial oversight.

The Bank of Ghana is developing a licensing framework to monitor cryptocurrency payments, addressing concerns that unrecorded crypto activity undermines economic data accuracy. Governor Johnson Asiama stressed that licensing is essential for effective monetary policy formulation.

Between July 2023 and June 2024, Ghana recorded $3 billion in cryptocurrency transactions, accounting for approximately 17% of regional activity. Nigeria dominated sub-Saharan Africa’s crypto market with $59 billion of the region’s $125 billion total during the same period.

The regulatory push occurs against a backdrop of economic challenges, including 13.7% inflation and a 28% benchmark interest rate. The licensing initiative aims to incorporate crypto flows into formal oversight mechanisms to stabilize monetary policy.

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