- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
Earn- More
Ghana Officially Legalizes Cryptocurrency Trading, Plans to Explore Gold-Backed Stablecoin
BlockBeats News, December 23rd. On Monday, the Ghanaian side announced that parliament has passed the "Virtual Asset Service Providers Act." According to the Act, individuals or institutions engaged in digital asset-related businesses are required to register with and be regulated by the Bank of Ghana or the Securities and Exchange Commission of Ghana based on the nature of their business.
Johnson Asiama, Governor of the Bank of Ghana, stated that the Act establishes the foundation for licensing and regulating the virtual asset industry, ensuring that emerging activities are incorporated into a clear, accountable, and well-governed framework. In a previous speech, he also noted that the passage of the Act means that individuals will no longer be arrested for trading cryptocurrency, and the goal of the new framework is to effectively manage related risks.
Data shows that Ghana handled approximately $3 billion in cryptocurrency transactions between July 2023 and June 2024, with around 17% of the country's adults believed to have used cryptocurrency.
Ghana plans to focus on driving the application of blockchain technology in areas such as payments, trade finance, foreign exchange settlement, and market infrastructure in 2026 to support cross-border commercial activities, including "targeted exploration" of asset-backed digital settlement tools such as stablecoins backed by gold.
You may also like
Crypto’s Next Challenge: Privacy and the Chicken-Egg Dilemma
Key Takeaways Privacy is becoming a central issue as cryptocurrencies move into traditional banking and state-backed systems. Regulatory…
Scaramucci Criticizes Stablecoin Yield Ban’s Impact on U.S. Dollar
Key Takeaways The CLARITY Act’s prohibition on stablecoin yields potentially weakens the U.S. dollar’s competitiveness against the digital…
CLARITY Act Stalls: Why Has the Interest-Bearing Stablecoin Become a Bank’s “Thorn in the Side”?
Key Takeaways The debate surrounding the CLARITY Act is primarily focused on interest-bearing stablecoins and their implications for…
South Korea considers changing the one-bank rule for crypto exchanges: An In-depth Review
Key Takeaways: South Korea is examining the current “one exchange–one bank” model amidst concerns of market concentration, potentially…
India Central Bank Suggests BRICS CBDC Link-Up As Members Explore Alternatives to Dollar Rails
Key Takeaways India’s central bank proposes a CBDC connectivity initiative for the upcoming 2026 BRICS summit. This move…
Anchorage Digital Prepares for IPO with Significant $400M Fundraise
Key Takeaways Anchorage Digital is actively seeking to raise $200 million to $400 million in new funding, with…
China-led CBDC Project mBridge Surpasses $55 Billion in Cross-Border Payments
Key Takeaways The mBridge project has handled over $55 billion in cross-border payments, signaling a shift from traditional…
Scaramucci Remarks on Stablecoin Yield Ban’s Impact on US Dollar
Key Takeaways: The CLARITY Act’s prohibition on yield-bearing stablecoins decreases the competitive edge of the US dollar against…
Yen Weakness Nears Inflation Red Line: Bank of Japan May Be Forced to Hike Early
Most US debanking cases stem from government pressure, says report
Key Takeaways A report from the Cato Institute indicates that most debanking incidents in the US originate from…
South Korea to lift ban on corporate crypto investment: Report
Key Takeaways South Korea’s Financial Services Commission (FSC) is set to end a nine-year ban on corporate crypto…
Russia Targets Illegal Crypto Miners; India Advocates for CBDCs: A Global Overview
Key Takeaways Russia is intensifying efforts to regulate illegal cryptocurrency mining, proposing significant fines and penalties. India’s Reserve…
Russian Pension Fund Overwhelmed by Crypto Inquiries as Mining Income Discussion Intensifies
Key Takeaways In 2025, Russia’s Social Fund received approximately 37 million inquiries, with a significant portion focused on…
Vietnam Sets Mid-January Timeline for Pilot Crypto Exchange Approvals
Key Takeaways Vietnam aims to regulate its growing cryptocurrency market by licensing pilot digital asset exchanges under a…
Former Brazil Central Bank Official Introduces Real-Pegged Stablecoin Offering Yield Sharing
Key Takeaways BRD, a newly unveiled stablecoin by Tony Volpon, a former director of the Central Bank of…
Barclays Invests in Stablecoin Settlement Firm as Tokenized Infrastructure Expands
Key Takeaways Barclays has invested in Ubyx, a U.S.-based startup focused on developing clearing systems for tokenized forms…
Lloyds Bank Achieves a Milestone: UK’s First Gilt Purchase via Tokenized Deposits
Key Takeaways Lloyds Bank executed the first-ever UK government gilt purchase through tokenized deposits, highlighting a transformative use…
Seven Chinese Financial Associations Declare RWA Tokenization Illegal
Key Takeaways Seven major Chinese financial associations have declared Real-World Asset (RWA) tokenization illegal, reflecting its categorization as…
Crypto’s Next Challenge: Privacy and the Chicken-Egg Dilemma
Key Takeaways Privacy is becoming a central issue as cryptocurrencies move into traditional banking and state-backed systems. Regulatory…
Scaramucci Criticizes Stablecoin Yield Ban’s Impact on U.S. Dollar
Key Takeaways The CLARITY Act’s prohibition on stablecoin yields potentially weakens the U.S. dollar’s competitiveness against the digital…
CLARITY Act Stalls: Why Has the Interest-Bearing Stablecoin Become a Bank’s “Thorn in the Side”?
Key Takeaways The debate surrounding the CLARITY Act is primarily focused on interest-bearing stablecoins and their implications for…
South Korea considers changing the one-bank rule for crypto exchanges: An In-depth Review
Key Takeaways: South Korea is examining the current “one exchange–one bank” model amidst concerns of market concentration, potentially…
India Central Bank Suggests BRICS CBDC Link-Up As Members Explore Alternatives to Dollar Rails
Key Takeaways India’s central bank proposes a CBDC connectivity initiative for the upcoming 2026 BRICS summit. This move…
Anchorage Digital Prepares for IPO with Significant $400M Fundraise
Key Takeaways Anchorage Digital is actively seeking to raise $200 million to $400 million in new funding, with…
App