Ghana Moves to License and Regulate Crypto Platforms Amid Growing Adoption

Key Points

1. Ghana's Bank of Ghana is finalizing a regulatory framework for crypto platforms to submit to parliament by September 2025, targeting $3 billion in annual crypto transactions.

2. The move comes as Ghana's cedi currency has shown extreme volatility, rising 48% over the past year after a 25% drop in the previous 12 months.

3. International players like Blockchain.com and Visa are expanding into African markets, including Ghana, as regulatory frameworks develop.

4. Ghana became the first African country to release blockchain-based commemorative NFT stamps in May 2024, highlighting its digital innovation efforts.

5. The African crypto market is projected to generate over $2.9 billion in revenue by 2025, driven by a young, tech-savvy population.