Players within the cryptocurrency space have expressed confidence that the digital asset industry will see significant growth as the government moves to regulate it.
Bank of Ghana (BoG) Governor, Dr. Johnson Asiama, recently announced that the central bank will commence regulation of cryptocurrency and related platforms by the end of September 2025.
The BoG explained that the move is contingent on the passage of the Virtual Asset Providers Act.
This legislation will empower the Bank of Ghana to license and regulate platforms and players operating in the virtual asset space. Speaking to Citibusiness News, President of IoT Network Hub & Ghana STEM Network, Joshua Opoku Agyemang, says the regulation has been long overdue, stating it will help boost confidence in the cryptocurrency industry.
“This has been something the crypto community community of Ghana has been really looking forward too for a long time we have seen how crypto currency has grown over the past years with bitcoin today worth over 93 thousand dollars and the countries communities that have embraced it earlier they are making the best out of it today a lot of innovation has been built a lot of innovation has been built a lot of marker capital has been built even bitcoin capital is over trillions of dollars today this is all as a result of countries embracing it and adopting it so fast.
“I am so excited that as a country we are taking this bold step to be able to regulate cryptocurrency because this is now going to open up for the industry to grow now there is going to be confidence there is going to be trust on having government regulatory supporting it and to me I think this is going to drive industry our digital asset as well”.
