Home Latest Insights | News As Ghana Comes Home on Crypto, Africa Must “Dot the i’s and Cross the t’s”

As Ghana Comes Home on Crypto, Africa Must “Dot the i’s and Cross the t’s”

As Ghana Comes Home on Crypto, Africa Must “Dot the i’s and Cross the t’s”

Ghana comes home: “The Central Bank of Ghana (Bank of Ghana, BoG) is finalizing a regulatory framework for cryptocurrency platforms, set to be submitted to parliament by September 2025. The proposed Virtual Asset Providers Act aims to license and regulate Virtual Asset Service Providers (VASPs), including crypto exchanges and wallet providers, to ensure transparency, consumer protection, and financial stability.”

Crypto. Crypto. Crypto – how many times did I call you?

Has any person in Africa modelled the impact of normalizing crypto investments on government’s treasury bills, bonds, etc? In other words, if those options are available with cryptos locally and in accessible forms, some government-backed assets will see real competition. Of course, digital capital is here, and Ghana like other African countries must do what it must do.

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But we must be nuanced on these assets since it is evident that the US is now the “reserve country” and the USD the “reserve operating currency” of major cryptos which means very soon, local central banks will be drawn into the fray as local banks will be entwined in cryptos!


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