Ghana to adopt activity-based approach as it nears crypto regulation
- The Bank of Ghana released a draft policy paper on regulating virtual assets and VASPs.
- Ghana's virtual assets ecosystem has expanded to over 3 million users.
- More than 100 VASPs registered during the central bank's mandatory registration exercise.
Ghana's proactive approach to regulating virtual assets is commendable, as it seeks to balance innovation with necessary oversight. However, the effectiveness of these regulations will depend on their implementation and the ability of regulatory bodies to adapt to the rapidly evolving digital landscape. Ongoing consumer education will be crucial to mitigate risks associated with virtual assets.
