Ghana is ready to start licensing cryptocurrency platforms in response to an increase in demand for digital assets in the West African country, Bloomberg reported on Thursday.
The country’s central bank concludes regulatory approval to submit to parliament by September, according to the report, with reference to an interview with the Bank of Ghana Governor Johnson Asiama.
The hope is that regulation of the crypto sector will help the Ghana capture income and better control its Fiat currency. CEDI has grown over 40% against the US dollar in 2025, which helps it recover from a loss of almost 20% last year. This volatility has made it difficult for the central bank to control inflation.
The use of cryptocurrency can aggravate this problem as many agents make and receive crypto payments that are not caught in the country’s financial accounts, Asiama added.
About 17.3% of Ghans adults own Cryptocurrency, equivalent to just over 3 million people, according to a June 2024 report from the Middle East-based business news company Zawya.
Crypto transactions in Ghana in the 12 months to June 2024 amounted to $ 3 billion out of a total of $ 125 billion for all of Africa south of the Sahara, Del Titus Bawuah, CEO of Web3 Africa Group, said, according to Bloomberg’s report.
