Ghana Joins Crypto Regulation Race with Licensing Plan
Ghana is gearing up to bring cryptocurrency trading under formal regulation, with the central bank set to propose a licensing framework to parliament by September. The move aims to integrate digital asset transactions into the mainstream economy, thereby improving cross-border trade, attracting investment, and enhancing financial oversight. With crypto activity in Ghana reaching $3 billion between July 2023 and June 2024, the urgency for regulation has grown. Under the new rules, only licensed and registered exchanges and wallet providers will be permitted to operate, and they’ll be required to meet capital thresholds and flag suspicious transactions. If passed, the framework will position Ghana alongside South Africa and Nigeria as pioneers in crafting a clearer legal path for crypto activity in Africa.
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