Ghana To License Crypto Firms Amid Rising Demand: Bloomberg
Main Idea
The Bank of Ghana is implementing a new framework to regulate cryptocurrency platforms due to the growing demand for digital assets and the challenges posed by crypto transactions on economic tracking.
Key Points
1. The Bank of Ghana plans to regulate cryptocurrency platforms nationwide, addressing the volatility of the cedi and inflation control challenges.
2. Crypto transactions in Ghana reached $3 billion between July 2023 and June 2024, accounting for a significant portion of sub-Saharan Africa's $125 billion total.
3. All Virtual Asset Service Providers (VASPs) in Ghana must register with the central bank by August 15, 2025, or face exclusion from future licensing opportunities.
4. The U.S. is advancing crypto regulation with the GENIUS Act, signed into law on July 18, 2025, providing clarity in the regulatory landscape.
5. Global regions, including Africa, Asia, and Europe, are focusing on regulating VASPs, stablecoins, and anti-money laundering (AML) measures.
Description
The post Ghana To License Crypto Firms Amid Rising Demand: Bloomberg appeared first on Coinpedia Fintech News Ghana, a West African nation, is preparing to license cryptocurrency platforms in response to the growing demand for digital assets. New Framework by September According to a report from Bloomberg , the Bank of Ghana plans to propose a new regulatory framework by September to oversee and license crypto platforms nationwide. With around 3 million adults, which is about 17% of the populati...
Latest News
- Why SpacePay Is The Top Altcoin to Invest in for Hot Gains This Summer2025-07-28 08:18:26
- Bitcoin Bull Run in October Could Ignite a 5x Altcoin Rally2025-07-28 08:18:05
- PancakeSwap Price Jumps 13%, as BNB Hits New ATH2025-07-28 08:15:25
- $1 Billion in Ethereum Shorts at Risk if ETH Reaches $4,0002025-07-28 08:15:15
- Changpeng Zhao’s Net Worth Soars to $75.8B as Binance (BNB) Price Hits All-Time High2025-07-28 07:59:11