Our locations:

The Bank of Ghana (BoG) has released an exposure draft for public comment on its proposed regulatory framework for digital assets. This marks a shift from the BoG’s cautious stance on digital currencies, as it now aims to regulate and promote innovation while safeguarding financial sector integrity.

The draft sets requirements for Virtual Asset Service Providers (VASPs), focusing on consumer protection, cybersecurity, financial stability, and preventing financial crimes. It also defines the roles of Enhanced Payment Service Providers (EPSPs) and commercial banks in the digital asset landscape.

Stakeholders are urged to submit feedback by August 31, 2024, as their input will shape the future of digital asset regulation in Ghana. Businesses, especially VASPs and financial institutions, should start preparing for compliance now.

For assistance with these guidelines, please contact TEMPLARS Partner, Sarpong Odame, and Senior Associate, Aasiya Sarku Nettey.

View full publication

Related Posts

26 August 2024

The Nigeria Communications Commission Issues New Business Rules and Regulations
The Nigerian Communications Commission (NCC) has introduced new regulations under the Nigerian Communications Act 2003 to enhance consumer protection and service quality in the telecom sector.

2 August 2024

Judicial Intervention: Permissibility of Single Shareholder Structure For Companies Incorporated Pre-Enactment of the CAMA 2020
On July 30, 2024, the Federal High Court of Nigeria ruled that private companies incorporated before the Companies and Allied Matters Act 2020 (CAMA 2020) can transition to a single shareholder structure.

1 August 2024

TEMPLARS Transcripts: Capital Markets Digest
In this maiden edition of the TEMPLARS Capital Market Digest, the Finance Practice Group introduces a bi-annual publication centered on the evolving capital market landscape of Nigeria.