Ghana’s Central Bank mandates crypto firms to register by August 15
- Ghana's central bank requires all crypto service providers to register by August 15, 2025.
- The new directive allows registered firms to access banking services, including cedi conversions and payroll management.
- The Bank of Ghana's previous stance warned against digital assets due to risks of money laundering and fraud.
The regulatory shift by the Bank of Ghana is a progressive step towards integrating cryptocurrency into the formal financial system, promoting transparency and consumer protection. However, the strict deadline and potential penalties for non-compliance may create challenges for smaller firms that need time to adapt to these new regulations. Ongoing dialogue between regulators and the crypto community will be essential to ensure a balanced approach that fosters innovation while safeguarding the financial system.
