Gana uvodi regulaciju kriptovaluta
Ghana plans to adopt its first comprehensive cryptocurrency law by the end of December. The country’s central bank is responding to the growing popularity of digital assets, aiming to establish clear rules for their use and market oversight. If successful, Ghana will join the group of African nations that already actively regulate the crypto industry.
According to data from the Demandsage platform, more than three million Ghanaians—about 8.9% of the population—currently use cryptocurrencies. Until now, the lack of legislation has allowed unmonitored transactions, a gap the central bank now intends to close.
The bill heads to parliament
Ghana has been working on the draft regulation for the past four months. According to Bank of Ghana Governor Johnson Asiama, the legislative package is already on its way to parliament, with the goal of approval before the end of the year. “We hope that by the end of December, we’ll be able to regulate cryptocurrencies in Ghana,” Asiama said at the annual International Monetary Fund meeting in Washington.
The move was inspired by Kenya’s recently adopted law, which sets out rules for crypto exchanges, wallet providers, brokers, and token issuers while introducing licensing and consumer protection. Kenya passed its law on October 7, and Ghana is now following its example.
From warnings to active regulation
Until recently, Ghana’s central bank had warned the public that cryptocurrencies were not legal tender, encouraging people instead to use the state-backed currency. Over the past year, however, its stance has shifted. In August 2024, the bank released a draft of regulatory guidelines and invited public feedback.
Originally, the legislation was scheduled for adoption in September, but the timeline was pushed back. Asiama emphasized that laws alone will not be enough. “Passing the legislation is only the first part of the process. The key will be our ability to monitor the movement of cryptocurrencies and prevent the system from being abused,” he said.
Sandbox and market pressure
The new framework also includes a digital sandbox, allowing selected companies to test crypto services in a controlled environment. The goal is to encourage innovation while maintaining consumer protection. Asiama noted that growing demand means the government can no longer remain on the sidelines. “The demand is so high that we can’t leave it unregulated. We must have at least partial control over the system,” he explained.
Ghana catching up with regional leaders
The financial sector has also called for faster regulation. Isaac Simpson from Stanbic Bank Ghana warned earlier this year that the country risks losing ground to regional competitors “The digital train has already left the station,” he said in July. According to Simpson, Nigeria, Kenya, South Africa, and Rwanda are already several steps ahead—testing central bank digital currencies, launching regulated crypto exchanges, issuing digital licenses, and attracting foreign investment. “Ghana must choose—either lead or fall behind,” he added.
Sources:
https://www.youtube.com/live/symVo7v5KQU
https://cointelegraph.com/news/uganda-cbdc-tokenization-crypto-regulation-kenya
https://cointelegraph.com/news/ghana-new-crypto-regulations-2024